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Biodesix Extends Lung Franchise with Acquisition of Integrated Diagnostics

July 9, 2018

Biodesix, Inc. is based in Boulder, Colorado. (Photo: Business Wire)

BOULDER, Colo.--(BUSINESS WIRE)--Jul 9, 2018--Biodesix, Inc., a molecular diagnostics company, announced today that the company has acquired Seattle-based Integrated Diagnostics, Inc. (Indi). The agreement includes the XL2 test, Indi’s lead oncology product, which offers a noninvasive means of ruling out cancer for patients with suspicious lung nodules. Financial terms of the deal were not disclosed.

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Biodesix, Inc. is based in Boulder, Colorado. (Photo: Business Wire)

Every year, health care providers in the United States discover more than 1.6 million lung nodules in patients. It is often challenging and costly to determine whether these nodules are malignant or benign. The XL2 test is a pulmonary nodule classifier that measures blood proteins to identify lung nodules that have a high probability of being benign. Data from the PANOPTIC (PulmonAry NOdule Plasma proTeomIc Classifier) clinical trial, which were published in the journal CHEST, demonstrate that in a subset of patients with low-to-moderate risk lung nodules, XL2 is 98 percent effective at distinguishing benign nodules from those that are malignant.

“The team at Indi has developed and substantially validated an important test that helps physicians better manage patients who present with a suspicious nodule in their lung,” said David Brunel, chief executive officer of Biodesix. “Adding XL2 to our portfolio demonstrates our commitment to helping physicians and patients battle lung disease across a continuum of clinical presentations.”

The Biodesix VeriStrat ® proteomic test provides objective prognostic information independent of treatment choice, including immunotherapy. The GeneStrat ® genomic test measures actionable mutations for non-small cell lung cancer to further inform therapeutic decisions and monitoring.

“XL2 is a perfect complement to our existing commercial blood-based lung cancer tests, which make use of advanced proteomic and genomic technology to support more informed treatment decisions,” said Scott Hutton, chief operating officer of Biodesix.

“We’ve been actively exploring the optimal path to bring XL2 to the market since 2017, when we validated our test,” said Al Luderer, Ph.D., chief executive officer of Integrated Diagnostics. “Indi and Biodesix share important values and technologic synergies that make us ideal partners, including a singular focus on providing high-value, blood-based diagnostic products for lung disease and the expert application of advanced mass spectrometry and informatics. Additionally, we are impressed by Biodesix’s rapidly expanding commercial presence and extensive lung disease product pipeline.”

About Biodesix

Biodesix is a molecular diagnostics company advancing the development of innovative, multi-omic blood tests in oncology to enable precision medicine. Biodesix discovers, develops and commercializes multivariate protein and genomic liquid biopsy tests, including the GeneStrat ® and VeriStrat ® tests, that deliver results within 72 hours. The company is changing the standard of care by providing physicians with diagnostic tests and with the Biodesix Lung Reflex™ testing strategy, for better therapeutic guidance, more accurate prognosis and enhanced disease monitoring to improve patient outcomes. At the forefront of personalized medicine, Biodesix is developing new tests to identify patients who may benefit from immunotherapies. In addition to developing novel diagnostics independently, the company partners with biotechnology and pharmaceutical companies to develop companion diagnostics for use with therapeutic agents.

For more information about Biodesix, please visit www.biodesix.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20180709005195/en/

CONTACT: Biodesix, Inc.

Nicole Litchfield, 415-793-6468

nicole@bioscribe.com

KEYWORD: UNITED STATES NORTH AMERICA COLORADO

INDUSTRY KEYWORD: HEALTH BIOTECHNOLOGY CLINICAL TRIALS GENETICS ONCOLOGY PHARMACEUTICAL

SOURCE: Biodesix, Inc.

Copyright Business Wire 2018.

PUB: 07/09/2018 07:30 AM/DISC: 07/09/2018 07:31 AM

http://www.businesswire.com/news/home/20180709005195/en

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