NEW YORK (GenomeWeb News) – Pharmaceutical services company Althea Technologies said yesterday it has spun out its molecular diagnostics and biomarker business into an independent company called Althea Diagnostics.
The new company, which will be situated at Althea Technologies’ campus in San Diego, will commercialize a quantitative gene measurement technology and will seek to develop other tools and applications aimed at speeding up the development of molecular diagnostic tests.
Althea Diagnostics is developing a test for differential diagnosis of pediatric solid tumors along with other biomarker sets for use in cancer management.
Company Co-founder François Ferre said in a statement that the move to create a diagnostics-focused company was “a situation of technology and timing,” and said the attraction of the molecular diagnostics market was “too strong to resist.”
The spin-out also will continue to offer lab services to pharmaceutical companies and contract research organizations, including its Express Pathway suite, which is used to identify molecules, explore treatment pathways, and build sets of markers that may be of clinical utility.