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Almac will analyze all samples performed with Exonhit's blood-based AclarusDx test.

The deal was abandoned after the two companies could not reach new terms and conditions following a Medicare contractor's decision to cover only one of RedPath's tests.

Medicare's decision to drop coverage on the test had put on hold a planned acquisition of RedPath by ExonHit.

ExonHit said that it anticipates a lack of quorum to vote on the acquisition, which last week hit a snag on the news that Medicare may drop RedPath's pancreatic cancer test.

RedPath has until July 9 to respond to a Medicare contractor why coverage for its PathFinderTG-Pancreatic test should continue, and ExonHit is currently evaluating the consequences of the decision.

Under the terms of the agreement, Genmab has exclusive development and commercialization rights to 10 sequences that are indicative of alternative splicing events in targets "suitable for developing antibody-based therapeutics."

The deal, which may be worth up to $32 million, includes an upfront payment of $12.5 million in cash, and up to $19.5 million in stock.

ExonHit CEO Loic Maurel said that the transaction, scheduled to close in July, is a "significant milestone in ExonHit's strategy to become an internationally recognized player in molecular diagnostics," and will "strengthen" the firm's presence in the US.

The acquisition of the Pittsburgh-based cancer testing company will bolster ExonHit’s molecular diagnostic position and its US presence.

The companies said that "final results from the colon cancer program did not reach the level of performance we were aiming to achieve." The firms, both based in France, are co-developing microarray-based tests that screen for a variety of cancer biomarkers in blood.

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The former commissioner of the FDA has returned to the venture capital firm New Enterprise Associates as a special partner on the healthcare investment team.

Astronauts have edited yeast genes on the International Space Station in an experiment designed to show how cells repair themselves in space.

Emory University has found that two of its researchers failed to divulge they had received funds from China, according to the Atlanta Journal-Constitution.

In Science this week: influence of the nuclear genome on human mitochondrial DNA, and more.