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Siemens Healthcare Acquires NEO New Oncology AG

Siemens Healthcare Acquires NEO New Oncology AG

Siemens Healthcare Acquires NEO New Oncology AG

Siemens Healthcare Acquires NEO New Oncology AG

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Siemens Healthineers has expanded its diagnostics portfolio with the acquisition of NEO New Oncology AG, Cologne, Germany. The company's cancer genome diagnostic platform NEO(1) will support pathologists and oncologists with comprehensive molecular information to help select targeted cancer therapies. NEO New Oncology is developing molecular profiling assays based on NGS (Next Generation Sequencing), both for tissue specimens and body liquids.

This includes NEOliquid, a liquid biopsy test for the analysis of genomic profiles of solid tumors from a simple blood sample. NEO New Oncology's high quality 3rd generation hybrid capture technology allows for the analysis of circulating tumor DNA with high accuracy. The acquisition of NEO New Oncology provides Siemens Healthineers an entry point into NGS-based genomic testing and expands its capabilities in precision medicine and companion diagnostics.

Furthermore, Siemens Healthineers establishes a business prospect in the field of molecular services, with the plan to provide testing and enablement services to physicians, hospitals and laboratories, including access to the latest medical knowledge and technologies. "Siemens Healthineers' mission is to be THE enabler of healthcare providers worldwide, working together with them as a trusted partner to improve medical outcomes and to reduce costs," says David Stein, head of Strategy and Innovation, Siemens Healthineers.

"As part of this mission, we are focused on expanding our business in three fields: Molecular Diagnostics, Services and Advanced Therapies. NEO New Oncology alignes with these three fields by providing molecular diagnostics-based services and products that have the potential to guide diagnosis as well as therapy decisions in oncology. This acquisition allows us to enter this field, an area not covered by our current business, with offerings."

"The acquisition of NEO New Oncology will allow us to offer high-quality oncology tests and related services for physicians, hospitals and laboratories," says Sebastian Kronmueller, head of Molecular Services, Siemens Healthineers. "Covering both blood based and tissue based genomic tests, we will be able to provide clinically actionable results based on the latest scientific insights. We are already working with the NEO New Oncology team and strong partners in research to further broaden our Molecular Services portfolio and to extend our geographic reach by offering the tests in key global markets."

"We are excited about being part of Siemens Healthineers," says Andreas Jenne, CEO of NEO New Oncology AG. "The global presence will help us to grow and expand into new markets. We want to develop new, integrated solutions for cancer diagnostics with Siemens Healthineers, expand our portfolio of tests and offer services that will help physicians to select the right therapy for their patients." NEO New Oncology AG was established in 2012 and has almost 30 employees. The acquisition of the Cologne-based company by Siemens Healthcare GmbH was closed in late March 2016.