Allegro Diagnostics

Originally published Oct. 10.

NEW YORK (GenomeWeb) – Veracyte announced after the close of the market Thursday that it will acquire Allegro Diagnostics for $7.8 million in cash and $13.2 million in common stock.

Veracyte Reports that Adding BRAF Mutation Testing Doesn't Improve Upon its Afirma Test

The headline for this story has been updated from a previous version to clarify that the company has completed enrollment for the trial.

HTG Molecular Diagnostics has named Steve Hagan to be vice president of molecular diagnostic sales. Hagan previously was at Ventana Medical Systems, where he was senior director of digital pathology and workflow commercialization.

Janet Thornton, the director of the European Bioinformatics Institute, has been made a Dame Commander of the Order of the British Empire in recognition of her contribution to bioinformatics.

Proceeds from the financing will support the commercialization of Allegro's lead genomic test, BronchoGen, in 2012.

The funds were raised in a Series A extension financing and will go toward the commercialization of its BronchoGen test in 2012.

Allegro CEO Mike Webb said the licensing agreement will support the "continued advancement" of the firm's BronchoGen test, including a planned commercial launch in the first half of 2012.

The IP licensed by Allegro relates to a gene expression-based platform that detects common molecular responses that occur throughout the respiratory tract in current and former smokers with lung cancer.

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