NEW YORK – Biological Dynamics has permanently closed it operations, GenomeWeb has learned. According to a California state Worker Adjustment and Retraining Notification (WARN), the closure affected 62 employees at the firm's San Diego facility and became effective June 30. An automated email response from the company confirmed that it has "closed operations."
Biological Dynamics, which had received a breakthrough device designation from the US Food and Drug Administration for its exosome-based platform in 2021, had been working with a slate of research institutions and companies to advance its ExoVita Pancreas assay for early cancer detection in individuals with a high risk of developing pancreatic cancer.
As recently as last fall, the company was still adding new academic partners to its effort to validate the pancreatic cancer screening application of its technology.
In a written response to an email to Biological Dynamics requesting comment, Adam Jacobs, cofounder of the Jacobs Scheriff Group, said the firm had "completed a restructuring" and that a new company is now advancing its platform, with Jacobs serving as chief operating officer.
He did not name the new company but cited financial challenges as a reason for the dissolution of Biological Dynamics. He also said that several of its scientists and other employees are invested in the successor firm, which he said will operate "out of the public eye" as it advances Biological Dynamics' existing platform, as well as some "additional new endeavors."