- The CDx market is expected to reach six billion US dollars by 2022 and drive significant cost savings by improving trial outcomes and enabling precision patient segmentation strategies.
- CGI will be providing real-world insights, many in immuno-oncology trials, on implementing biomarkers into real world cancer care.
RUTHERFORD, N.J., Nov. 01, 2016 (GLOBE NEWSWIRE) -- Cancer Genetics, Inc. (Nasdaq: CGIX ) (“CGI” or “The Company”), a leader in enabling precision medicine for oncology through molecular markers and diagnostics, announced today that it will present at the Companion Diagnostics (CDx) Symposium on November 2nd and 3rd, 2016 in Edison, NJ.
The global CDx market is projected to reach close to $6 billion by 2022, according to Global Industry Analysts, Inc. (GIA), a leading market research firm. The CDx market is expected to increase due to technological advances, increasing adoption of CDx tests by clinicians, and encouragement from regulatory authorities. Strategies for parallel development or co-development of a CDx with targeted therapeutics and immuno-oncology agents are in high demand and ensure the safe and effective use of the therapeutic products.
"We are now entering a new era of precision medicine that is marked by greater understanding of biomarker development, integration of both genomic and immune markers and a high degree of availability of precision drugs. As a result our biopharma services business has seen significant demand in CDx development, CDx validation, and CDx strategy development. CGI is developing or managing CDx programs for some of the largest pharma and IVD companies globally in cancer, which we expect will result in durable, and differentiated cancer tests and capabilities," said Panna Sharma, Chief Executive Officer and President of CGI.
CGI's Medical Director, Boaz Kurtis, MD, will deliver a presentation covering the integration of test findings in the clinical laboratory to assist in patient segmentation, sample utilization for multiple testing modalities, and implementation of novel biomarkers. "Pathogenomic Biomarker Integration in the Immunotherapy Era: Valuable Insights from the Clinical Laboratory" will be presented on Wednesday, Nov. 2nd, at 11:35 am.
The presentation will be followed by a panel discussion with participation of CGI's VP of Biopharma Collaborations and Companion Diagnostics, Kamala Maddali, DVM, PhD and Senior Director of Biopharma Market Development and Collaborations, Leslie Abad, MS. “Building Strategic CRO Partnerships for Biomarker and CDx Centric Clinical Trials" is scheduled to take place at 4:50 pm.
On Thursday, Nov. 3rd, Kamala Maddali will cover the current landscape of companion diagnostics development and commercialization, focusing on immuno-oncology CDx PD-L1 and current challenges. "It's Time for Innovative CDx Planning Strategies in Immuno-Oncology" will also cover the roles and business models of diagnostic, pharmaceutical, and lab partners in CDx development and commercialization, including CGI. This talk is scheduled to occur at 11:35 am.
The free pre-event October 13 webinar "LDTs in Immuno-Oncology Workshop: Translating Cancer Research into Targeted Therapeutics" by CGI's Group Medical Director and VP of Hematopathology, Rita Shaknovich, MD, PhD, is now available at https://www.companiondiagnostics2016.com/ . The webinar is focused on cancer and immune surveillance, and strategies diagnostics laboratories can use to translate science into practice.
The Companion Diagnostics (CDx) Symposium schedule is available at https://www.companiondiagnostics2016.com/schedule/ .
ABOUT CANCER GENETICS Cancer Genetics, Inc. is a leader in enabling precision medicine in oncology from bench to bedside through the use of oncology biomarkers and molecular testing. CGI is developing a global footprint with locations in the US, India and China. We have established strong clinical research collaborations with major cancer centers such as Memorial Sloan Kettering, The Cleveland Clinic, Mayo Clinic, Keck School of Medicine at USC and the National Cancer Institute.
The Company offers a comprehensive range of laboratory services that provide critical genomic and biomarker information. Its state-of-the-art reference labs are CLIA-certified and CAP-accredited in the US and have licensure from several states including New York State.
For more information, please visit or follow CGI at: Internet: www.cancergenetics.com Twitter: @Cancer_Genetics Facebook: www.facebook.com/CancerGenetics
Forward-Looking Statements: This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements pertaining to Cancer Genetics Inc.’s expectations regarding future financial and/or operating results and potential for our tests and services, and future revenues or growth in this press release constitute forward-looking statements.
Any statements that are not historical fact (including, but not limited to, statements that contain words such as "will," "believes," "plans," "anticipates," "expects," "estimates") should also be considered to be forward-looking statements. Forward-looking statements involve risks and uncertainties, including, without limitation, risks inherent in the development and/or commercialization of potential products, risks of cancellation of customer contracts or discontinuance of trials, risks that anticipated benefits from acquisitions will not be realized, uncertainty in the results of clinical trials or regulatory approvals, need and ability to obtain future capital, maintenance of intellectual property rights and other risks discussed in the Cancer Genetics, Inc. Form 10-K for the year ended December 31, 2015 and the Form 10-Q for the Quarter ended June 30, 2016 along with other filings with the Securities and Exchange Commission. These forward-looking statements speak only as of the date hereof. Cancer Genetics, Inc. disclaims any obligation to update these forward-looking statements.
Contact: Panna Sharma Cancer Genetics, Inc. 201-528-9200 panna.sharma@cgix.com
