Diagnostics company Veracyte today announced it will acquire urological cancer test company developer Decipher Biosciences. Terms of the transaction were not disclosed.
Dicipher’s testing portfolio leverages whole-transcriptome sequencing and machine learning algorithms to provide actionable decision support. It’s Decipher Prostate RP test is the only genomic molecular diagnostic test recommended in NCCN guidelines for use in patients with localized prostate cancer.
“By combining Decipher Biosciences’ leadership in urologic cancers with our comprehensive genomic testing menu, Veracyte will be able to serve patients across the clinical care continuum in seven of the 10 most prevalent cancers in the United States with highly differentiated and clinically impactful tests, significantly accelerating revenue growth and driving shareholder value, said Bonnie Anderson, Veracyte’s chairman and chief executive officer in a press release “Further, with our best-in-class nCounter diagnostics platform, we are well-positioned to deliver comprehensive genomic cancer testing to physicians and their patients worldwide.”
As part of the acquisition, Dr. Tina Nova, Decipher’s president and CEO, and a veteran diagnostics industry leader, will join Veracyte as general manager, urologic cancers, along with the rest of the company’s employees. Nova has also been a member of Veracyte’s board since 2015, but was not involved in Veracyte’s deliberations regarding the transaction and will step down from the Veracyte board in connection with the transaction.
Decipher’s genomic tests have been used by more than 3,200 urologists and radiation oncologists, including at all 28 National Comprehensive Cancer Network (NCCN) centers in the United States. The company’s test are broadly reimbursed by Medicare and private payers and included in practice-changing clinical trials, with growing adoption within the urology community.
Later this year, the company expects to launch its Decipher Bladder test and it also has a kidney cancer test in development. Decipher GRID, a large, well-annotated urologic cancer database, is fueling the company’s biopharmaceutical partnerships and product innovation.
“Our goal is to enable better treatment decisions and patient outcomes in urologic cancers by providing valuable information about the underlying biology of a patient’s tumor,” said Nova. “Our team has made significant progress in advancing our mission and is thrilled to join Veracyte to benefit from their expertise and infrastructure, accelerating commercial expansion of our tests in the United States and globally.”