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.
The business was acquired by two private investment groups and a management group led by Prometheus Laboratories' former CEO.
Novartis will retain Genoptix's biopharma business, which will be renamed Navigate BioPharma Services.
The evaluation presented at SABCS last week highlighted the importance of considering node-positive and -negative patients, and incorporating clinical information with molecular tests.
The test, which relies on multiplex IHC and imaging to calculate a PD-1/PD-L1 interaction score, predicted response in melanoma patients better than PD-L1 testing alone.
360Dx reports that the US Centers for Medicare & Medicaid Services would cover next-generation sequencing-based cancer panel tests.
The Washington Post reports that a meteorologist is being considered as presidential science and technology advisor.
In PNAS this week: precision medicine strategy to screen for disease risk, genome evolution in Haemophilus influenzae, and more.
Researchers have developed a PCR-based assay to gauge whether manatees are present in waters.