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ICON acquires MolecularMD
Acquisition enhances ICON’s laboratory offering in molecular diagnostic testing and immunohistochemistry
Dublin, Ireland, 21 February, 2019 – ICON plc, (NASDAQ: ICLR) a global provider of drug development solutions and services to the pharmaceutical, biotechnology and medical device industries, today announced that it has acquired MolecularMD, a molecular diagnostic specialty laboratory that enables the development and commercialization of precision medicines in oncology. The acquisition enhances ICON’s laboratory offering in molecular diagnostic testing and brings to ICON expanded testing platforms, including next generation sequencing, and immunohistochemistry (IHC).
Founded in 2006, MolecularMD is a recognised leader in the analytical development and clinical validation of molecular diagnostic assays. It offers a comprehensive test menu in immune oncology development from two laboratories in Portland Oregon and Cambridge Massachusetts. MolecularMD services also include companion diagnostic development services which expand ICON’s laboratory service offering and will help pharmaceutical and biotechnology customers to maximise the value of laboratory data from clinical development programs.
“We are delighted to be joining ICON,” commented Dan Snyder, President, MolecularMD. “Together with ICON, we can offer clients broader clinical trial and scientific expertise, more comprehensive testing capabilities and global scale to help them accelerate development timelines and reduce costs. We remain committed to providing agile clinical trial assay development across technology platforms and extending all the way through regulatory approval and commercialization of companion diagnostics.”
Dr. Steve Cutler, Chief Executive Officer, ICON plc, said: “We are committed to expanding the testing we offer into specialised areas so that we can help customers to take time and cost from the development and commercialisation of precision medicines. MolecularMD enhances our laboratory offering in molecular diagnostic testing, a key area in oncology research, and brings to ICON expanded testing platforms and diagnostic services. They have a strong reputation for innovation and quality and are a great addition to the ICON team.”
About MolecularMD
MolecularMD is a diagnostics company that enables the development and commercialization of precision medicines in oncology. Its tests are designed to allow appropriate selection, monitoring and management of patients treated with molecularly-targeted and immuno-oncology cancer therapies. MolecularMD integrates gold standard and innovative platform technologies with custom clinical assay design and validation to accelerate all phases of clinical development, including FDA approval and commercialization of in vitro companion diagnostic tests for novel anti-cancer agents. MolecularMD is the exclusive manufacturer of the MRDx® BCR-ABL Test.
About ICON plc
ICON plc is a global provider of outsourced drug and device development and commercialisation services to pharmaceutical, biotechnology, medical device and government and public health organisations. The company specialises in the strategic development, management and analysis of programs that support clinical development - from compound selection to Phase I-IV clinical studies. With headquarters in Dublin, Ireland, ICON currently, operates from 90 locations in 37 countries and has approximately 13,680 employees.
Further information is available at www.iconplc.com
ICON Media Contact
Lucinda Sandon-Allum
Weber Shandwick
+44 (0)20 7067 0548