This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

PDI, Inc. Subsidiary Interpace Diagnostics Enters Molecular Diagnostics Market With Thyroid And Pancreatic Cancer Test Portfolio Acquisition

Stocks in this article: PDII

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.

PDI, INC. subsidiary, Interpace Diagnostics, has entered the molecular diagnostics market with a Thyroid and Pancreatic Cancer Test Portfolio Acquisition

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."

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs