The companion diagnostic test identifies patients taking the Novartis drug Tasigna who are candidates for treatment-free remission monitoring.
The merger, which was previously scuttled and later revived with Rosetta shareholder approval, was due to close on May 27.
Upon completion of the transaction, Rosetta will become a privately held subsidiary of Genoptix and its shares will cease to trade on the Nasdaq.
The deal comes as the firms try — for the second time — to close a merger that had previously failed to gain necessary approval from Rosetta shareholders.
Genoptix's $9 million bid for Rosetta comes just days after the companies' first merger agreement failed to secure shareholder approval.
Genoptix terminated the merger agreement after an insufficient number of Rosetta shareholders voted in favor of the deal.
Genoptix has also agreed to provide a $1.8 million secured bridge loan facility to fund Rosetta’s operations through the closing of the deal.
The technology could analyze, in one assay, all structural variants known to be diagnostic and prognostic for blood cancers, potentially replacing serial FISH testing.
The firms will develop tests in the hematology oncology space where detecting large structural variations of the genome is crucial for accurate diagnoses.
An Australian-led team has generated a draft genome assembly of the invasive cane toad in hopes it will help in population control, the Sydney Morning Herald reports.
The New York Times reports that the US Department of Defense has implemented about half the recommendations made to improve safe handling of dangerous agents.
In PLOS this week: approach for teasing out archaic introgression in human genomes, immune transcription features in HCV infection, and more.
Stat News reports that Maryland is promoting itself to the biotech industry with a mobile billboard.