Oncocyte Announces Definitive Agreement To Acquire Razor Genomics

Oncocyte continues the global expansion of DetermaRx with its second international agreement this year Oncocyte continues the global expansion of DetermaRx with its second international agreement… IRVINE, Calif., January 10, 2020 (GLOBE NEWSWIRE) — OncoCyte Corporation (NYSE American: OCX), a molecular diagnostics company with mission, Providing achievable answers to critical decision points in the continuum of lung cancer care announced today that it has entered into an agreement to acquire, through a subsidiary, the entire exceptional capital of Insight Genetics, Inc. (IG) private, which has a history of impact on lung and breast cancer. Just over a month ago, Exact Sciences agreed to acquire Genomic Health in a $2.8 billion transaction. OncoCyte, a global oncology diagnostic company, recently announced that it will adopt Razor Genomics, which has developed a new molecular diagnostic test for early-stage non-small cell lung cancer (NSCLC), the most common type of lung cancer. ALAMEDA, Calif., September 05, 2019 (GLOBE NEWSWIRE) — OncoCyte Corporation (NYSE American: OCX), a developer of early diagnosis and lung cancer treatment tests, announced today that it has reached a final agreement on the acquisition of Razor Genomics. An initial subscription, for which OncoCyte acquires razor preferred shares representing 25% of Razor`s outstanding equity, is expected to close before the end of September, subject to normal and other conditions. OncoCyte has the option to acquire the balance of Razor`s common shares from razor shareholders (the option to purchase). OncoCyte has entered into the agreement on access to the information society`s technology and pharmaceutical services. IG has a rich menu of relevant targeted therapeutic panels, including two emerging therapeutic goals, RET and NTRK. The SdI lead test is the Immune Modulation (IM Score), a gene expression test that measures the state of the immune system in biopsies of cancer patients, to identify patients likely to respond to PD-1/PD-L1 immunotherapies. Data presented at the 2019 Cancer Immunotherapy Society (CTCI) Annual Meeting showed a strong link between the IM score and the response to PD-1/PD-L1 targeted immunotherapy in lung cancer. It is important that the IM-Score test was superior to two predictive immunotherapy tests, PD-1/PD-L1 IHC coloration and tumor mutation exposure (TMB).

The IG Laboratory is able to support clinical trials or trial design within a framework of commercial platforms currently available to develop accompanying diagnostics, and has successfully conducted audits of large pharmaceutical and diagnostic companies. IG has carried out the development of assay and clinical trials for leading pharmaceutical and biotechnology companies. The merger agreement provides that, until the end of its life cycle, OncoCyte will pay a 10-year share of revenue to a maximum of 10% of net sales for IG Pharma service offerings and a staggered share of net sales until the end of the life cycle, when certain new cancer tests using GI technology are developed. OncoCyte may pay conditional consideration of up to $6 million, in combination with common shares in cash or OncoCyte, if certain steps are reached.