- Leading
private equity firms 1315 Capital and Ampersand Capital Partners’ recent
investment agreement with Interpace signal a “clear vote of confidence”
- Company’s
business units, Interpace Diagnostics and Interpace Pharma Solutions,
support the biotech and pharmaceutical sectors as they seek to improve
early cancer diagnosis and promote increasingly effective therapies
- Life
sciences industry forecast to reach $33.2 billion by 2024, experiencing an
11.5% CAGR over 5-year period
Interpace Biosciences (NASDAQ: IDXG), an evolving leader in
the life sciences industry, recently entered into a $20 million investment
agreement with two leading private equity firms investing in laboratory services (http://ibn.fm/G8cUU). The Series
B Preferred stock investment consisting of $19 million and $1 million from 1315
Capital and Ampersand Capital Partners, respectively, will be a boon to IDXG’s
growing power in an industry anticipated to reach $33.2 billion by 2024 – an
increase from its $19.3 billion in 2019. The life sciences industry is forecast
to experience a CAGR of 11.5% over the period (http://ibn.fm/H1lmI).
“We believe 1315 Capital will be, and Ampersand [a current
investor] will continue to be, great partners for Interpace,” Interpace
president and CEO Jack Stover stated in a news release. “This is a clear vote
of confidence in Interpace and its diagnostic and pharma solutions businesses.”
In addition to the investment agreement, Interpace also
announced its intention to effect a one-for-ten reverse stock split effective
coincident with the former’s closing. The reverse stock split is meant to
satisfy the Nasdaq Capital Market’s minimum bid price requirement by increasing
the per share trading price of IDXG’s common stock. “We believe this proposed
change in capital structure can benefit our stockholders and make our stock
more attractive to institutional and other investors,” Stover noted.
Having assisted physicians in the diagnosis and treatment of
over 75,000 patients, Interpace Biosciences has made contributions to some of
the pharmaceutical and biotech industry’s most critical clinical trials (http://ibn.fm/ENyPi). Its
business arms, Interpace Diagnostics™ and Interpace Pharma Solutions™, support
the biomedical and oncological industries by empowering clinicians with complex
molecular analysis data. This data helps enhance the efficacy of early cancer
diagnosis and treatment, as well as supporting the development of targeted
therapeutics.
Business unit Interpace Diagnostics™, focused on “resolving
diagnostic uncertainty,” offers evidence-based, clinically beneficial molecular
diagnostic tests and pathology services (http://ibn.fm/T04KG). Its offerings include reputable tests
like PancraGen®, ThyGeNext®, ThyraMir®, RespriDX® and BarreGen®. The company’s
tests assist in risk stratification of patient samples for a multitude of
cancers, including thyroid, pancreatic and lung, among others. Results gleaned
from these tests are used by physicians to make better, more effective
treatment decisions that more accurately target each individual patient –
determining whether patients are better suited for surgery or active
surveillance. These recommendations have the potential to help health care
professionals differentiate between potentially malignant cells and benign
ones, thus saving patients from risky, expensive surgeries that are frequently
unnecessary.
Alternatively, IDXG’s Interpace Pharma Solutions™ business
unit works hand-in-glove with biopharmaceutical companies by providing lab
testing, data management, project management and biorepository services (http://ibn.fm/joRK6). By
utilizing Interpace Pharma Solutions’ scientific, medical and expert knowledge,
biopharma and diagnostic clients are able to effectively integrate
pharmacogenomics – the study of how genes affect a person’s response to drugs –
into their drug development and clinical trial programs. Interpace Pharma
Solutions’ platform generates logistical reports comprised of biomarker
analysis, anatomic pathology, cytogenetics and customized molecular
technologies (http://ibn.fm/619vG).
As medicine personalized through the lens of genetics was recently referenced
as one of the top trends in the life sciences industry (http://ibn.fm/KGwPA), Interpace
Biosciences appears well-positioned to stay abreast of the dynamic industry and
is an attractive option for pharmaceutical and biotech companies conducting or
aiding in oncology-focused clinical trials.
Globally, the molecular diagnostics market is estimated to
experience a CAGR of 8.7% during the forecast period from 2018 to 2024 (http://ibn.fm/6hNeA). With a
comprehensive testing portfolio, Interpace Biosciences presents a convincing
opportunity for investors looking to benefit from the global community’s
growing reliance on personalized medicine.
For more information, visit the company’s website at www.Interpace.com
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