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Proove Biosciences Acquires Algynomics

NEW YORK (GenomeWeb) – Proove Biosciences announced today that it has acquired Algynomics, a research-stage pain diagnostics company.

Terms of the deal were not disclosed.

Algynomics's platform and patient cohorts provide prospective data to identify individuals at increased risk for chronic pain, Proove said. Such research can be used to target pain prevention efforts, enhance patient stratification in clinical trials to identify treatment responders, produce more sensitive criteria for trial enrollment, and develop algorithms to tailor treatment for pain.

Algynomics has also developed the Translational Pain Genetics Consortium to improve the effectiveness and efficiency of pain research through the use of cross-validated patient cohorts and analytical tools.

Proove said it plans to combine its own bioinformatics platform and research with Algynomics' research to launch new clinical assays and expand the use of Proove's platform in clinical research for new therapeutics, devices, and novel procedures to treat pain.

Proove's bioinformatics platform uses genetic information, electronic health records, and clinical assessments to predict pain outcomes, as well as to determine how patients objectively perceive pain, how they respond to opioid prescription drugs, and to classify their risk for misuse of opioid pain medications.

Both companies were originally founded in 2006.

"Much like Proove, Algynomics has been on a mission to relieve human pain conditions by using technologies that provide insight into the mechanisms of chronic pain and related clinical conditions," Algynomics Co-founder William Maixner said in a statement. "Algynomics' novel approaches to the diagnosis and treatment of chronic pain conditions can now be brought to market through Proove."