PARSIPPANY, N.J., Aug. 13, 2014 /PRNewswire/ -- PDI, Inc. (Nasdaq: PDII), a leading healthcare commercialization company, today announced that its Interpace Diagnostics subsidiary has entered the expanding cancer molecular diagnostics market with the acquisition of the miR Inform ® Thyroid and Pancreas cancer test assets from privately held Asuragen, Inc. This acquisition marks the execution of PDI's strategy to create a commercially driven molecular diagnostics business and a commitment to developing new solutions for the thyroid and pancreatic cancer testing markets.
MiR Inform Thyroid is a diagnostic assay comprised of 17 markers recommended by the American Thyroid Association to detect genetic alterations that are associated with thyroid cancer. MiR Inform Thyroid is a clinically useful prognosticator of thyroid cancer, which has demonstrated that the presence of these oncogenic mutations is highly correlated with malignancy with a post-test probability of thyroid cancer of 86 percent. [i] MiR Inform Thyroid is currently on the market and had approximately $2 million of revenue over the past 12 months.
MiR Inform Pancreas is a market-ready microRNA test expected to launch in the first half of 2015. This product has demonstrated significant clinical utility in detecting cancer in solid pancreatic tumors in a prospective clinical study.
This transaction includes the miR Inform Thyroid and Pancreas tests, intellectual property related to these and other tests in development for thyroid cancer, and an extensive 5,000 plus tissue sample biobank to support life cycle management efforts. Terms of the transaction include $8 million in upfront cash, future commercial milestone-based payments and royalties."Today's portfolio acquisition is a pivotal step in PDI's strategy to leverage our extensive healthcare go-to-market experience and infrastructure in the higher margin, high-growth market of molecular diagnostics," said Nancy Lurker, CEO, PDI, Inc. "It also complements our ongoing efforts in thyroid cancer, where a prospective clinical validation study is underway on a previously disclosed test that PDI has rights to in-license. Combined with the acquisition of a much needed, innovative diagnostic in pancreatic cancer – a devastating disease with limited molecular testing options – these tests set Interpace Diagnostics on a path toward establishing a commercial presence in cancer diagnostics."