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Friday, June 21, 2024

Quest Expands in Most cancers Testing With $300M Haystack Oncology Acquisition

Cancer metastasis

Quest Diagnostics is boosting its capabilities in most cancers, paying $300 million to amass a Johns Hopkins College spinout whose know-how identifies most cancers cells with a purpose to information remedy selections.

The Secaucus, New Jersey-based diagnostics large on Thursday introduced the money acquisition of Haystack Oncology. The Baltimore-based startup is a part of a rising space in most cancers testing known as liquid biopsies, assessments that detect most cancers by discovering circulating tumor DNA in a affected person’s blood pattern. Grail and Guardant Well being are among the many corporations that market assessments that detect early indicators of most cancers, enabling clinicians to intervene sooner.

Haystack’s focus is minimal residual illness—detecting most cancers cells that stay following preliminary remedy with surgical procedure or a drug. Check outcomes assist clinicians assess how properly the preliminary remedy labored and whether or not extra remedy, known as an adjuvant, is important to kill any lingering most cancers cells. That’s essential as a result of extra remedy, usually a chemotherapy, introduces a variety of unwanted side effects.

Outcomes of a potential examine printed final June within the New England Journal of Medication confirmed that an earlier model of Haystack’s know-how was in a position to higher establish colon most cancers sufferers with residual illness. By figuring out those that want adjuvant remedy, the Haystack know-how additionally identifies those that don’t, sparing them the tough results of chemotherapy that they don’t want.

Quest mentioned it expects to adapt the Haystack check, making it the premise of recent medical lab providers that might change into accessible early subsequent 12 months. The preliminary focus will likely be minimal residual illness assessments for colorectal, breast, and lung cancers.

Along with the upfront cost, the acquisition settlement requires Quest to pay as much as $150 million for milestones that weren’t disclosed. The deal is predicted to shut in later within the present quarter.

“Working with Haystack, we have now a possibility to broaden entry to [minimal residual disease] insights and doubtlessly enhance favorable long-term outcomes from most cancers,” Quest Chairman, CEO, and President Jim Davis mentioned in a ready assertion.

Haystack was based in 2021 by Johns Hopkins scientists Bert Vogelstein, Ken Kinzler, and Nick Papadopoulos. Kinzler and Papadopoulos had been co-founders of most cancers diagnostics agency Actual Sciences. All three scientists went on to discovered liquid biopsy startup Thrive Earlier Detection, which Actual Sciences acquired in 2021. Final November, Haystack introduced a $56 million Collection A spherical of financing led by Catalio Capital Administration.

Public area picture by Stuart S. Martin by way of the Nationwide Most cancers Institute

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