Cancer Genetics, Inc. Announces a Partnership with ICON to Offer Comprehensive Oncology Laboratory Testing & Solutions for the Global Biopharma Industry
Published on: Monday, July 6th, 2015 View all Media
- The companies have entered into an agreement to offer biotech and pharmaceutical clients access to ICON Laboratory Services’ global central laboratory experience combined with Cancer Genetic’s expertise in oncology testing and genomic assay development.
RUTHERFORD, N.J. July 6, 2015 – Cancer Genetics, Inc. (Nasdaq:CGIX) (“CGI” or “the Company”), an emerging leader in DNA-based diagnostics, announced today that it has entered into a partnership with the Laboratory Services group of ICON plc, the global CRO (Nasdaq:ICLR).
ICON’s Laboratory Services provide global testing services to the pharmaceutical, biotechnology and medical device industries. The partnership will provide clients access to combined expertise ranging from complex, oncology-focused genomic testing to core central laboratory analysis, project and data management and sample logistics on a global basis.
Oncology testing services are central to CGI’s business model and are also a core focus area for ICON Laboratory Services. Together, the two companies will leverage their respective expertise to provide key insights to the oncology drug development and clinical trial process: ICON’s expertise in strategic development and in management and analysis of lab data from large-scale clinical programmes, and CGI’s extensive knowledge in applying genomics and other advanced technologies focused on cancer. The partnership is focused on providing a comprehensive, integrated and efficient solution for laboratory testing for global oncology trials from Phase 1 through Phase IV.
“We are looking forward to working with the CGI team and to enhancing our client offering with complementary laboratory service programs,” said James Miskel, Executive Vice President, ICON Laboratory Services. “Together, CGI and ICON are uniquely positioned to provide a full range of comprehensive lab solutions for our customers with current and future oncology focused clinical trials.”
With the projected value of the cancer diagnostics market estimated to reach $169B globally by 2020, the industry has growing demand for complex oncology laboratory testing services. CGI provides complex genomic testing for six out of ten major pharmaceutical companies in the US.
“This partnership will satisfy the enormous need among biotech and pharmaceutical companies for more efficient and comprehensive testing solutions by integrating CGI’s specialized, genomic testing to ICON’s laboratory solutions, “ said Panna Sharma, CEO of Cancer Genetics.”
ABOUT CANCER GENETICS
Cancer Genetics, Inc. is a leader in enabling precision medicine in oncology from bench to bedside through the use of oncology biomarkers and molecular testing. CGI is developing a global footprint with locations in the US, Australia and China. We have established strong clinical research collaborations with major cancer centers such as Memorial Sloan Kettering, The Cleveland Clinic, Mayo Clinic, Keck School of Medicine at USC and the National Cancer Institute.
The Company offers a comprehensive range of laboratory services that provide critical genomic and biomarker information. Its state-of-the-art reference labs are CLIA-certified and CAP-accredited in the US and have licensure from several states including New York State.