Interpace Biosciences (NASDAQ: IDXG), a leader in leveraging molecular diagnostics and other platforms for the benefit of patients and supporting pharmaceutical development, this morning announced its entry into an agreement for a new Series B Preferred Stock investment of $20 million, consisting of $19 million from 1315 Capital and an additional $1 million from Ampersand Capital Partners, an existing Interpace investor. 1315 Capital and Ampersand are two leading private equity firms that invest in laboratory services. “We believe 1315 Capital will be, and Ampersand will continue to be, great partners for Interpace. This $20 million investment strengthens our capacity to grow and pursue acquisitions,” Interpace President and CEO Jack Stover said in the news release. “This is a clear vote of confidence in Interpace and its diagnostic and pharma solutions businesses.”
To view the full press release, visit http://nnw.fm/1qdEA
About Interpace Biosciences
Interpace Biosciences is a leader in enabling personalized medicine, offering specialized services along the therapeutic value chain from early diagnosis and prognostic planning to targeted therapeutic applications. Interpace Diagnostics, a subsidiary of Interpace Biosciences, is a fully integrated commercial and bioinformatics business unit that provides clinically useful molecular diagnostic tests, bioinformatics and pathology services for evaluating risk of cancer by leveraging the latest technology in personalized medicine for improved patient diagnosis and management. Interpace has four commercialized molecular tests and one test in a clinical evaluation process; PancraGEN(R) for the diagnosis and prognosis of pancreatic cancer from pancreatic cysts; ThyGeNEXT(R) for the diagnosis of thyroid cancer from thyroid nodules utilizing a next generation sequencing assay; ThyraMIR(R) for the diagnosis of thyroid cancer from thyroid nodules utilizing a proprietary gene expression assay; and RespriDX(R) that differentiates lung cancer of primary vs. metastatic origin. In addition, BarreGEN(R) for Barrett’s Esophagus, is currently in a clinical evaluation program whereby the company gathers information from physicians using BarreGEN(R) to assist it in positioning the product for full launch, partnering and potentially supporting reimbursement with payers. Interpace Pharma Solutions, a subsidiary of Interpace Biosciences, provides pharmacogenomics testing, genotyping, biorepository and other customized services to the pharmaceutical and biotech industries. The biopharma business also advances personalized medicine by partnering with pharmaceutical, academic, and technology leaders to effectively integrate pharmacogenomics into their drug development and clinical trial programs with the goals of delivering safer, more effective drugs to market more quickly, and improving patient care. For more information, visit the company’s website at www.Interpace.com.
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