InCellDx Receives Investment from Bio-Reference Laboratories
InCellDx, Inc., a Menlo Park, California-based molecular diagnostics start-up company, has received an equity investment from Bio-Reference Laboratories, Inc. (NASDAQ: BRLI).
BRLI has purchased for $6m ($4m cash investment and $2m by promissory note) shares representing between between 20% and 25% of InCellDx. In conjunction with the transaction, Marc Grodman, MD, President and CEO of BRLI. will be chairman of the board of directors of InCellDx and Charles T. Todd of BRLI will also be appointed to the six person InCellDx board.
Led by CEO and founder Bruce Patterson, MD, InCellDx focuses on the detection and monitoring of life -threatening diseases such as cervical cancer, breast cancer, HIV/AIDs, hepatitis and organ transplant rejection. The company’s technology enables quantification of molecular biomarkers inside intact cells using cell-based instruments and in-situ hybridization. This process allows protein and gene expression to be measured by distinct cell type, aiding in both diagnosis and disease localization. GenPath adapted this technology for the quantification of E6/E7 mRNA in HPV.
In addition to the invesment, BRLI’s GenPath Women’s Health has developed and launched a new test called GenCerv, based on the InCellDx’s patented and proprietary HPV mRNA quantification technology.