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Cancer Genetics, Mayo Clinic JV Form NGS Company

Oncospire Genomics will focus on critical need oncology areas

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Cancer Genetics, Inc. (GCI) and the Mayo Clinic’s joint venture has formed Oncospire Genomics, based in Rochester, MN, to pursue the development of novel and unique next generation sequencing diagnostic panels in areas of critical need in oncology. Oncospire is equally owned by both parties and will initially pursue the development of NGS panels for lung cancer, multiple myeloma, and follicular lymphoma.
 
The multi-disciplinary approach will combine Mayo Clinic’s next generation sequencing capabilities and biobank with CGI’s scientific leadership, disease-focused genomic knowledge and commercial insight. CGI recently invested $1 million in Oncospire and will invest an additional $5 million based on project development milestones.

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