OvaGene Oncology Announces Acquisition of Etta Healthcare to Further Expansion Into Emerging Global Markets
News Feb 27, 2016
OvaGene Oncology, Inc. has announced the acquisition of Etta Healthcare. Through this acquisition, OvaGene will provide physicians with simple-to-use, rapid, point-of-care molecular diagnostic tests on a novel, patented point-of-care system. The system will allow healthcare professionals to perform multiplexed molecular tests at the point-of-care using body fluids such as blood, urine, and saliva.
The patented microfluidic system has been validated to identify and quantitate proteins, viruses, and nucleic acids within minutes. The handheld system, which is reader-less, low cost, and disposable, has proven to be adaptable to the diagnostic requirements of several disease conditions including cancer, infectious disease, cardiology, and chronic inflammation.
OvaGene’s first point-of-care device, intended for use in the gynecologic cancer market, is expected to be released in the second half of 2016. Utilizing a network of distribution partners, OvaGene will commercialize its patented systems in the United States, Europe, and India.
Frank J. Kiesner, Chairman and CEO of OvaGene, commented, “Etta’s people and technologies have allowed OvaGene to provide point-of-care molecular testing services in a broad spectrum of non-hospital environments and to do so in geographic regions unreachable through a central reference laboratory operating model. OvaGene is now able to integrate its liquid biopsy and molecular diagnostic mission onto Etta’s proprietary point-of-care system in a manner that will benefit patients worldwide.”
Stephanie Griffin, CEO and Founder of Etta Healthcare, stated, "OvaGene’s long history in personalized medicine, molecular diagnostics, and innovation provide Etta with a strong diagnostic foundation for rapid validation and commercialization of Etta’s novel point-of-care system. We view OvaGene as an invaluable and synergistic alliance resource to support Etta’s mission.”