Based on its recent analysis of the clinical diagnostics market, Frost & Sullivan recognized GenPath Diagnostics, a business unit of BioReference Laboratories, Inc. with the
2012 North American Frost & Sullivan Award for Company of the Year
. As a BioReference specialized cancer laboratory, GenPath is a major factor to the Company’s impressive growth trajectory—18 years of 20% Compound Annual Growth Rate (CAGR) in revenue.
GenPath provides complete cancer laboratory testing in addition to novel and proprietary tests. With the entire cancer workup conducted in-house, GenPath delivers superior turn-around-time compared to other commercial laboratories. In addition to standard analysis including morphological examination, flow cytometry, and advanced stains, GenPath also offers proprietary cancer diagnostic testing like the OnkoMatch™ solid tumor genotyping test.
OnkoMatch™ is the culmination of state-of-the-art cancer research and provides oncologists actionable information. Patients are matched with open clinical trials based on their tumor profile. “OnkoMatch™ clearly meets an unmet need in lung cancer patients and also benefits other solid tumor cancers," said Frost & Sullivan Industry Analyst Winny Tan.
GenPath exclusively licenses the tumor genotyping technology and protocol—upon which OnkoMatch™ is based—from leading cancer research center Massachusetts General Hospital and is the first and only commercial laboratory to offer the test nationally. OnkoMatch™ bridges widely-used single mutation tests with the future of highly complex testing, like whole genome sequencing that is anticipated to reach the clinical markets in the next few years.
Frost & Sullivan independently benchmarked across market participants concluding that the OnkoMatch™ test provides tremendous value by profiling 14 relevant oncogenes across 68 loci including the common single mutations EGFR, KRAS, and BRAF. At $995, the OnkoMatch™ provides a superior price point compared to four individual, single mutation tests. In comparison, just EGFR and KRAS tests together can total more than $1,000 at other specialized cancer laboratories.