ICON plc, a global provider of outsourced development services to the pharmaceutical, biotechnology and medical device industries, announced its acquisition of MolecularMD.
MolecularMD is a full-service laboratory, manufacturer, and marketer of companion diagnostics and molecular diagnostics – including the Genoptix MRDx® BCR-ABL Test – that streamlines the development, regulatory approval, and clinical deployment of precision oncology medicines.
The acquisition expands ICON’s capabilities in molecular diagnostic testing and also adds expanded testing platforms, including next-generation sequencing and immunohistochemistry, to ICON’s laboratory service offering. MolecularMD’s specialty central laboratory offering and associated client base extends ICON’s reach into the support of precision medicine programs across all phases of drug – diagnostic co-development.
Crosstree Capital Partners acted as the exclusive financial advisor to MolecularMD.