Corporate Banner
Satellite Banner
Molecular & Clinical Diagnostics
Scientific Community
 
Become a Member | Sign in
Home>News>This Article
  News
Return

Transgenomic Acquires ScoliScore™ AIS Prognostic Test from Axial Biotech

Published: Wednesday, August 29, 2012
Last Updated: Wednesday, August 29, 2012
Bookmark and Share
Commercially established, highly accurate test reduces dangerous radiation exposure in adolescents diagnosed with Scoliosis.

Transgenomic, Inc. has announced that it has entered into a definitive agreement to acquire the global rights to Axial Biotech’s ScoliScore™ Adolescent Idiopathic Scoliosis (AIS) Prognostic Test for a total consideration of $4.4 million in cash.

The acquisition provides Transgenomic with the ScoliScore™ assay technology and intellectual property, an established revenue and customer base and access to a market estimated at 400,000 patients in the United States.

“The acquisition of ScoliScore™ furthers Transgenomic’s strategic vision of investing in products and technologies with significant potential or that can benefit immediately from synergies available through our existing sales team, clinical laboratories and other infrastructure, including relationships with Medicare, Medicaid and other third-party payers. We believe that ScoliScore™ will contribute positively to earnings by the end of 2012, excluding any acquisition related charges,” said Craig Tuttle, Chief Executive Officer of Transgenomic.

ScoliScore™ is the first clinically validated and commercially available saliva-based multi-gene test that provides a highly accurate assessment of the likelihood of spinal curve progression for adolescent children diagnosed with AIS, or an abnormal lateral curve of the spine.

The ScoliScore™ Test helps to reduce the uncertainty of AIS progression and may help patients reduce the need for repeated doctor visits, physical examinations and years of exposure to radiation from frequent x-rays.

“AIS is the most prevalent adolescent deformity. Every year, 100,000 adolescent children are diagnosed with AIS. Only 2-4 percent of these affected children will progress to a severe spinal curve requiring surgical intervention. Despite this low rate of progression, adolescent children with scoliosis are routinely monitored by numerous physician office visits and are subjected to a high number of x-ray examinations. The ScoliScore™ Test identifies, with a high degree of accuracy, those individuals who are unlikely to progress to a point where surgery is needed, which can significantly reduce their radiation exposure from repeated x-ray monitoring,” commented Mr. Tuttle.

Ken Ward, MD, Chief Medical Officer of Axial Biosciences added, “Diagnosing AIS is routine, but predicting which patients have severe disease and need to be closely followed is challenging.
ScoliScore™ enables physicians to more efficiently and effectively manage the long-term care of adolescents with scoliosis. In a study completed by the National Cancer Institute, 5,466 women who had been monitored for Scoliosis and were exposed to 25 or more x-rays during their adolescent years were followed into adulthood and experienced a 67 percent increase in breast cancer death versus what you would expect in the normal population. The ScoliScore™ Test can predict, with a 99 percent accuracy rate, those subjects who will not progress to a severe curve, saving time, expense, patient and parent anxiety and potentially harmful exposure to radiation. No other currently available method of AIS evaluation is as accurate and convenient as ScoliScore™.”

The transaction is subject to the approval of Axial Biotech’s shareholders and other conditions and is expected to close in September 2012.


Further Information

Join For Free

Access to this exclusive content is for Technology Networks Premium members only.

Join Technology Networks Premium for free access to:

  • Exclusive articles
  • Presentations from international conferences
  • Over 3,300+ scientific posters on ePosters
  • More than 4,900+ scientific videos on LabTube
  • 35 community eNewsletters


Sign In



Forgotten your details? Click Here
If you are not a member you can join here

*Please note: By logging into TechnologyNetworks.com you agree to accept the use of cookies. To find out more about the cookies we use and how to delete them, see our privacy policy.

Related Content

Transgenomic Awarded NIH Grant
STTR grant supports addition of greater multiplexing capabilities to ICE COLD-PCR, an advanced technology that enables use of tissue or liquid biopsy samples and provides up to 500-fold increase in mutation detection on any sequencing platform.
Monday, January 04, 2016
Transgenomic Licenses Liquid Biopsy Technology to University of Melbourne
Commercial agreement for Australia allows University of Melbourne to use Transgenomic’s multiplexed ICE COLD-PCR™ product for cancer diagnostics and biomarker identification.
Friday, September 18, 2015
Transgenomic Licenses Exclusive Rights to Multiplexed Ice Cold-PCRTM Technology
Multiplexed Version of Revolutionary Technology Enables Efficient Detection of Multiple Cancer Mutations in a Single Liquid Assay
Wednesday, May 28, 2014
Transgenomic, Raptor to Collaborate
Transgenomic to provide genetic profiling for Raptor's clinical trial evaluating drug for the treatment of Leigh Syndrome and other mitochondrial disorders.
Friday, April 04, 2014
Transgenomic and The Medical College Of Wisconsin Announce Collaboration
Transgenomic will offer next-generation genetic testing services performed at the MCW Clinical Sequencing Program.
Monday, July 30, 2012
Transgenomic Announces $3 Million Convertible Note Financing
The company announced it has entered into a Convertible Promissory Note Purchase Agreement in the aggregate amount of $3.0 million with entities associated with Third Security, LLC.
Monday, January 09, 2012
Transgenomic, Inc. To Purchase Clinical Data, Inc.'s Diagnostic Business
Transgenomic, Inc. announced today the signing of a definitive agreement for Transgenomic to acquire the diagnostic business of Clinical Data, Inc.
Tuesday, November 30, 2010
Scientific News
Detecting Alzheimer's with Smell Test
Odour identification test may offer low-cost alternative for predicting cognitive decline and detecting early-stage Alzheimer’s disease.
CDC Updates Zika Recommendations
CDC has issued updated Zika recommendations and guidance for healthcare providers with a focus on sexual transmission.
Review of the Analysis of Haemoglobin A1c for Diabetes Diagnostics
This paper aims to clarify methods, units, quality requirements, reference and cutoff limits for hemoglobin A1c (HbA1c) and ratio of blood glucose/HbA1c on the basis of the results from Finnish quality control surveys by comparing them to the literature.
Colon Cancer Blocked in Mice
Case Western Reserve University Researchers block common type of colon cancer tumour in mice, laying groundwork for human clinical trial.
Drug - Gene 'One-Two' Punch Against Cancer
Researchers identify gene-drug combinations that, together, target and kill cancer cells while not targeting healthy cells.
Liquid Biopsies Treating Ovarian Cancer
Researchers have discovered a promising monitor and treat recurrence of ovarian cancer. Detecting cancer long before tumours reappear.
72% Rise in Metastatic Prostate Cancer
Over the 2003-2013 period metastatic cancer has increased by an average of 72%, this could be caused by lax screening, more aggressive disease or both.
Lab-Tested Diagnosis Needed When Treating Persistent Diarrhea
New PCR multiplex method makes lab testing more effective.
Biomarker for Multiple Sclerosis Detection Discovered
Winthrop-University Hospital researchers discover biomarker for multiple sclerosis detection.
Scientists Link Bipolar Disorder to Unexpected Brain Region
Researchers from The Scripps Research Institute have found that gene within the brain’s striatum could be linked to biopolar disorder.
SELECTBIO

SELECTBIO Market Reports
Go to LabTube
Go to eposters
 
Access to the latest scientific news
Exclusive articles
Upload and share your posters on ePosters
Latest presentations and webinars
View a library of 1,800+ scientific and medical posters
3,300+ scientific and medical posters
A library of 2,500+ scientific videos on LabTube
4,900+ scientific videos
Close
Premium CrownJOIN TECHNOLOGY NETWORKS PREMIUM FOR FREE!