Life Technologies Corporation – LIFE – Acquisition of Navigenics Expands Capabilities in Diagnostics
Life Technologies Corporation (NASDAQ: LIFE) announced the acquisition of Navigenics, Inc. This acquisition represents Life Technologies’ first step in executing against a strategy to build out its molecular diagnostics business through internal development, partnerships and select acquisitions.
“Genetic analysis is becoming increasingly accessible, cost-effective and a critical part of patient clinical management,” said David Agus, M.D. co-founder of Navigenics, professor of Medicine and Engineering at the University of Southern California, and author of The End of Illness. “As a result, physicians have more complete and accurate information about the patient than ever before, which is translating into more effective, individualized care programs for patients.”
“The advent of personalized medicine will require a combination of technologies and informatics focused on delivering relevant information to the treating physician,” said Ronnie Andrews, president of Medical Sciences at Life Technologies. “Navigenics has pioneered the synthesis and communication of complex genomic information, and we will now pivot the company’s effort to date and focus on becoming a comprehensive provider of technology and informatics to pathologists and oncologists worldwide.”
Navigenics’ multidisciplinary expertise, including its technology infrastructure, user interfaces, online platforms, genomic support services, and an experienced team, will play a central role in the delivery of Life Technologies’ molecular diagnostic model. The company’s established CLIA-certified laboratory, licensed throughout the United States, will be employed for design and validation of new diagnostics assays. Life Technologies plans to develop and offer lab-developed tests as well as commercialized assays that have been approved by FDA and other regulatory authorities. Life will also continue to build partnerships with pharmaceutical companies for companion diagnostic development, including participating in clinical trials, which is enabled by the CLIA lab acquisition.
Navigenics’ extensive clinical program provides Life Technologies (LIFE) with a leadership position in clinician and patient education and support, which will be leveraged by Life Technologies (LIFE) in building its diagnostics business. The platform includes a network of oncologists, pathologists, and genetic counselors, who will be available to support community-based physicians in the adoption of genetic medicine and assist them in understanding these innovative types of medical information.
About Life Technologies – LIFE
Life Technologies Corporation (LIFE) is a global biotechnology company with customers in more than 160 countries using its innovative solutions to solve some of today’s most difficult scientific challenges. Quality and innovation are accessible to every lab with its reliable and easy-to-use solutions spanning the biological spectrum with more than 50,000 products for agricultural biotechnology, translational research, molecular medicine and diagnostics, stem cell-based therapies, forensics, food safety and animal health.
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Post Written By: Ed Liston
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.
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