NEW YORK – Hitachi High-Tech and Invivoscribe on Monday announced a partnership to combine their expertise and technologies to develop molecular diagnostics to diagnose cancer and monitor disease during treatment.
As part of the partnership, Hitachi will become a minority investor in Invivoscribe.
The partnership is intended to accelerate the molecular diagnostics and precision medicine businesses of both companies, combining Invivoscribe's technology, assay and bioinformatics development, global clinical testing, and regulatory expertise with Hitachi's expertise in measurement and analysis systems, the firms said in a statement.
The amount and terms of Hitachi's investment were not disclosed though it said that it is "undertaking a minority investment-based, third-party allotment of shares."
Hitachi said it "aims to cooperate across development, manufacturing, sales, and testing services" with Invivoscribe "while developing systems that provide solutions that better address the on-site needs of cancer diagnosis and monitoring throughout the course of treatment."
San Diego-based Invivoscribe currently provides testing services for blood cancers and global sales. It also distributes test kits and licenses bioinformatics software, and develops and commercializes companion diagnostics for oncology treatments.
Tokyo-based Hitachi, through its analytical and medical solutions business, is looking to build out its in vitro diagnostics business aimed at the early detection and treatment of cancer and the discovery of new drugs.
"Hitachi High-Tech has been strengthening its molecular diagnosis business centered on genetic testing," Yoshimitsu Takagi, general manager of Hitachi's Analytical & Medical Solutions Business Group, said in a statement. "By combining Invivoscribe’s testing service business with our equipment business, we aim to build a unique business model and provide a wide range of services to medical professionals."