Cancer Genetics Named One of the Top 10 Drug Discovery & Development Solution Providers by Panel of Industry Experts at Pharma Tech Outlook

RUTHERFORD, N.J., Oct. 31, 2017 (GLOBE NEWSWIRE) -- Cancer Genetics, Inc. (Nasdaq:CGIX) (“CGI” or “The Company”), a leader in enabling precision medicine for oncology through molecular markers and diagnostics, announced today that an industry leading panel of experts and executives from the biotech and pharmaceutical industry selected CGI as one of the top ten companies providing drug discovery and development solutions for 2017.

The panel of experts recognized CGI’s world-class team of scientists, technologists and clinicians, stating that the company is "setting new trends in the pharma space with its biomarker and genomics based cancer diagnostics and clinical trial services targeted at a wide range of cancers." The industry experts noted that CGI has built a unique bench-to-bedside model by developing a proprietary in-house portfolio of technologies and tests, complimented by strategic acquisitions, most recently vivoPharm, which can save drug companies tens of millions of dollars, and years of development by using CGI’s discovery, development and patient diagnostic services in one integrated company. 

"Our unique bench to bedside strategy, which has been significantly augmented by our vivoPharm acquisition, is proving to be a winning strategy for CGI as evidenced by this top ten ranking and the increased interest from drug development teams to provide a higher degree of integrated services in the development process and thereby reduce process and knowledge risk. Our development, technology and clinical teams are now managing over 200 trials and studies for our biotech, and pharmaceutical sponsors across a wide range of therapies and combinations in cancer and personalized medicine, and this selection with other innovative companies and technologies emphasizes our unique position in the precision medicine landscape,” said Panna Sharma, President and CEO of Cancer Genetics, Inc.

With over 80 patents and a global presence, Pharma Tech Outlook also noted that CGI was selected as a top ten drug discovery and development solutions provider because it has both genomic and proteomic platforms along with immune marker capabilities for multiple cancers.

Mr. Sharma continued, "It is an honor to be named among the top ten solution providers engaged in providing solutions for cancer drug discovery and development. Our world-class team of scientists, clinicians and technologists should be proud of this accomplishment, as CGI was selected among hundreds of companies based on a rigorous evaluation process by industry experts. This recognition demonstrates that we are fast becoming a world leader as a trusted, and highly valued provider for delivering the future of personalized oncology therapy and precision medicine."

With offices and laboratories in the U.S., Europe, Australia, India, and China and world-class collaborations with major cancer research institutions, CGI now serves 9 of the top 10 biopharma companies in the world as well as hundreds of laboratories and clinicians across the globe. 

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, India, China and Australia. 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.

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This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements pertaining to Cancer Genetics, Inc.’s expectations regarding the completion, timing, pricing and size of the offering described in this press release constitute forward-looking statements.

Any statements that are not historical fact (including, but not limited to, statements that contain words such as “will,” “believes,” “plans,” “anticipates,” “expects,” “estimates”) should also be considered to be forward-looking statements. Forward-looking statements involve risks and uncertainties, including, without limitation, risks inherent in the development and/or commercialization of potential products, risks of cancellation of customer contracts or discontinuance of trials, risks that anticipated benefits from acquisitions will not be realized, uncertainty in the results of clinical trials or regulatory approvals, need and ability to obtain future capital, maintenance of intellectual property rights and other risks discussed in the Cancer Genetics, Inc. Form 10-K for the year ended December 31, 2016 and the Form 10-Q for the Quarter ended June 30, 2017 along with other filings with the Securities and Exchange Commission. These forward-looking statements speak only as of the date hereof. Cancer Genetics, Inc. disclaims any obligation to update these forward-looking statements.

Panna Sharma
Cancer Genetics, Inc.
Tel: 201-528-9200

Source: Cancer Genetics, Inc.