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Precision for Medicine's QuartzBio Acquires Genomic Data Analytics Firm SolveBio

NEW YORK – Precision for Medicine said Tuesday that its QuartzBio unit has acquired genomic data analytics firm SolveBio for an undisclosed amount. Additional terms of the deal were not disclosed.

The acquisition allows QuartzBio to bring SolveBio's genomic and clinical data analytics technology into its own multiomics data integration platform. This will augment QuartzBio's offerings for biomarker discovery in therapeutic areas including oncology, autoimmune disease, and central nervous system disease.

"QuartzBio's acquisition of SolveBio is a major step forward in our goal to solve biomarker data management for the pharmaceutical and biotech industry," SolveBio Cofounder and Chief Technology Officer David Caplan said in a statement. "By joining QuartzBio's … team, we will be able to provide the comprehensive solution our clients need to get precision treatments out to patients faster."

Scott Marshall, general manager of QuartzBio, said that the acquisition allows the company to "advance our portfolio of enterprise solutions to enable scale and connectivity in support of our ultimate goal: delivering therapies to patients."

QuartzBio parent company Precision for Medicine is a Frederick, Maryland-based unit of Precision Medicine Group. The firm previously acquired artificial intelligence technology developer SimplicityBio and integrated its technology.

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