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Source MDx Liquidating Assets

By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) — Source Precision Medicine, dba SourceMDx, said today that it has assigned all its assets to Joseph Finn of accounting firm Finn, Warnke & Gayton for liquidation.

Source MDx has gone out of business and its intellectual property and patents will be sold at a sealed bid sale on April 29 at noon. The liquidation is being conducted for the benefits of Source MDx's creditors.

Source MDx was based in Boulder, Colo., and was developing blood-based tests that measured RNA transcripts for the presence and aggressiveness of cancer. It had been developing a test for prostate cancer and lung cancer, and collaborated with Pfizer on companion diagnostics for the drug manufacturer's cancer and inflammation therapeutic development programs.

In 2008, the company also formed a partnership with Brigham and Women's Hospital to study RNA-based biomarkers for multiple sclerosis.

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