Privately-held biotech company Indivumed, based in Hamburg, Germany, has announced that Inostics and its Baltimore-based subsidiary have been sold to Sysmex, a developer and manufacturer of instruments, reagents and software needed for in-vitro diagnostics, headquartered in Japan.
Inostics possesses advanced genetic testing technologies, such as ultra-sensitive digital PCR technology for detecting cancer cell DNA directly from blood—a "liquid biopsy" process as opposed to tissue testing. Sysmex plans to develop on a global basis assay services that Inostics already provides. Sysmex's companion diagnostics activities, in collaboration with pharmaceutical companies, will also be enhanced.
In 2008, following a five-year collaboration with Dr. Bert Vogelstein and his team at Johns Hopkins University in Baltimore, Indivumed and these scientists founded Inostics to commercialize the "BEAMing-Technology."
"With Sysmex, we expect achieving our goal to make Inostics technology the leading approach for DNA-based cancer diagnostics for the worldwide benefit of cancer patients.
The fact that Sysmex has its European headquarter in the Hamburg area facilitates a smooth transition and an undelayed continuation of Inostics business," said Dr. Frank Diehl, co-founder of Inostics, who continues to work for Inostics as chief scientific officer and managing director.
Indivumed will independently expand its tissue-based clinical research service business leveraging a comprehensive tumor-biobank and its prowess in the analysis of proteins and cancer pathways for drug development and patient diagnostics.