NeoGenomics completes Inivata acquisition
Combining best-in-class liquid biopsy technology with leading community oncology platform
Acquisition establishes NeoGenomics as a technology leader in the minimal residual disease (MRD) testing market
NeoGenomics, Inc. (NASDAQ:NEO), a leading provider of cancer-focused genetic testing services and global oncology contract research services, announced today that it has completed its acquisition of Inivata Ltd, a global, commercial stage liquid biopsy platform company headquartered in Cambridge, England.
Inivata has been a strategically important partner for us over the last year and we are excited today to officially welcome the company's world class team of professionals and liquid biopsy capabilities to NeoGenomics
said Mark Mallon, Chief Executive Officer of NeoGenomics.
"We are particularly enthusiastic about Inivata's highly sensitive RaDaR assay, targeting the emerging and significant opportunity for minimal residual disease testing. We plan on leveraging our established oncology diagnostics leadership position, human capital, strong pharma and clinical market relationships, and robust balance sheet to accelerate the development of this assay. The addition of Inivata bolsters our leading market position today and further establishes us as a leader in the rapidly evolving liquid biopsy testing space."
Inivata will become a liquid biopsy focused division alongside NeoGenomics' growing clinical, pharma and informatics divisions. Inivata Chief Executive Officer, Dr. Clive Morris, will become the President of Inivata and will report to Mark Mallon.