Overview
OmniSeq®, a molecular diagnostics subsidiary of the Roswell Park Comprehensive Cancer Center, announced Hitachi High-Technologies Corporation’s participation in OmniSeq’s Series B financing round and an option to exclusively license OmniSeq Comprehensive® and Immune Report Card® for clinical distribution in Japan on April 12, 2018.
OmniSeq will use the funds to conduct ongoing retrospective and prospective clinical trials and to generate further evidence of the clinical utility of OmniSeq’s comprehensive genomic and immune profiling services.
Immune Report Card® is a first-in-kind comprehensive immune profiling test designed to inform oncologists regarding checkpoint inhibitor (CPI) treatment decisions.
Significance
The companies will further collaborate on Hitachi High-Tech’s plans to develop clinical laboratory operations in Japan.
The companies expect to leverage Hitachi High-Tech’s decades of expertise in sequencing technology with OmniSeq’s expertise in assay development.
The investment enables Hitachi High-Tech to take a first-to-market position in a new wave of immunotherapy cancer diagnostics in Japan.
Crosstree’s Role
Crosstree Capital Partners acted as exclusive financial advisor to OmniSeq.
This transaction follows LabCorp’s recent Series B investment and commercial agreement, which Crosstree also advised on.
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