NEW YORK (GenomeWeb) – Rosetta Genomics today announced that it has completed its previously announced acquisition of CynoGen, a molecular diagnostics firm doing business as PersonalizeDx.
Rosetta bought the firm from Prelude Corp., which recently acquired CynoGen from Abbott, in exchange for $2 million, 500,000 of Rosetta's ordinary shares, and certain undisclosed assets and services.
Through the deal, Rosetta has picked up PersonalizeDx's portfolio of proprietary fluorescence in situ hybridization-based tests for prostate, bladder, and lung cancers, as well as a CLIA lab in Lake Forest, Calif. Also included in the deal is Prelude's assay for ductal carcinoma in situ, a prognostic test designed to differentiate stage 0 breast cancer patients at high and low risk for disease recurrence, as well those likely to respond to therapy versus those who are not.
Rosetta said that PersonalizeDx recorded 2014 revenues of $6.9 million. Following the acquisition, Rosetta anticipates its 2015 revenues will be in the range of $10 million to $12 million, and its 2016 revenues will exceed $18 million.