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In Brief This Week: Interpace Biosciences, ProPhase Labs, OpGen, Centogene, Seegene, Freenome, More

NEW YORK – Interpace Biosciences said this week that its fourth quarter revenues fell 9 percent year over year to $8.3 million from $9.1 million, while its full-year 2022 revenues dropped 4 percent to $31.8 million from $33.1 million in 2021. The Parsippany, New Jersey-based molecular diagnostics firm said that 2022 revenue was impacted negatively by a reimbursement rate decline for its ThyGeNext sequencing assay for diagnosing thyroid cancer from nodules. Interpace trimmed its Q4 net loss to $1.6 million, or $.37 per share, from a net loss of $3.7 million, or $.89 per share, in Q4 2021. The firm's full-year net loss grew to $22.0 million, or $5.18 per share, from $14.9 million, or $3.61 per share, in 2021. In Q3 2022, Interpacesold its pharma business to Flagship Biosciences for an undisclosed amount, a move that it said was expected to improve operating cash flow by nearly $5 million annually. The company noted this week that its 2022 loss from continuing operations was $5.9 million compared to $7.0 million in 2021, an improvement driven by a decline in operating expenses. Interpace finished the year with $4.8 million in cash, cash equivalents, and restricted cash. 

Diagnostics and genomics firm ProPhase Labs said this week that its 2022 revenues soared 55 percent year over year. The company reported $122.6 million in revenues for 2022, up from $79.0 million in 2021. Most of this increase resulted from diagnostic services, in particular COVID-19 testing. Net income for the year was $18.5 million, or $1.02 per share, compared to $6.3 million, or $.40 per share, the year before. The Garden City, New York-based firm ended the year with $9.1 million in cash and cash equivalents, and $8.3 million in marketable debt equity securities. 

OpGen this week reported that its Q4 revenues were slashed by nearly half year over year to $721,630 from $1.4 million, while full-year 2022 revenues dropped 40 percent to $2.6 million from $4.3 million in 2021. The Rockville, Maryland-based molecular diagnostics developer said that the revenue decline was primarily due to the termination of its FISH product line and the one-off, nonexclusive sale of a portion of its ARES database. The company's Q4 net loss swelled to $10.5 million, or $3.87 per share, from a net loss of $6.8 million, or $6.91 per share, a year ago. Full-year net loss totaled $37.3 million, or $15.27 per share, compared to $34.8 million, or $22.89 per share, in 2021. The company finished the quarter with $7.4 million in cash and cash equivalents. 

German rare disease company Centogene said this week that it is collaborating with contract research organization IQvia on the clinical development of rare disease treatments. The companies plan to accelerate and streamline clinical trials and improve access to genetic testing for patients. Financial and other details of the partnership were not disclosed. 

South Korean molecular diagnostics firm Seegene said this week that it signed an agreement with Israeli diagnostics firm Hy Laboratories (Hylabs) earlier this month for the use of Seegene's syndromic PCR technology by Hylabs. Seegene said it is looking for additional partners for a global network that will use its syndromic PCR technology and develop new tests with it, including on its automated testing platform, One System. 

Freenome said this week that Renown Health has joined its network of partners for the Sanderson Study. The study aims to clinically validate Freenome's multiomics early cancer detection platform, which analyzes tumor and non-tumor signals from a blood sample using machine learning. Freenome plans to enroll approximately 8,000 patients from its clinical study partner network and regional health systems across the US. Earlier this year, Geisinger also joined as a study partner. 

Oxford Nanopore Technologies said this week that it will be participating in a cohort study led by the UK's National Institute for Health and Care Research (NIHR) BioResource. The company expects the study to sequence up to 22,000 human samples using its PromethIon 48 platform as part of research into psychiatric, common, and rare diseases. Data from the study, which is expected to start this year and be completed in 2025, will be made available through a managed-access database hosted by the European Genome-Phenome Archive (EGA).

Akili Labs, a diagnostic service provider based in South Africa, and BGI Genomics said this week that they have signed a technology transfer agreement to establish commercial local clinical sequencing services in southern Africa. Financial and other details of the deal were not provided. 

In Brief This Week is a selection of news items that may be of interest to our readers but had not previously appeared on GenomeWeb.