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Siemens Healthineers Acquires Molecular Dx Firm Neo New Oncology

NEW YORK (GenomeWeb) – Siemens Healthineers announced today that it has acquired German cancer diagnostics firm Neo New Oncology as part of an effort to expand its portfolio of molecular testing services and technologies.

Specific terms of the deal were not disclosed.

"The acquisition of Neo New Oncology will allow us to offer high-quality oncology tests and related services for physicians, hospitals, and laboratories," Sebastian Kronmueller, head of molecular services at Siemens Healthineers, said in a statement. "Covering both blood-based and tissue-based genomic tests, we will be able to provide clinically actionable results based on the latest scientific insights."

Neo New Oncology, which was founded in 2012 and has roughly 30 employees, develops next-generation sequencing-based assays for tissue and biofluid specimens. Its portfolio includes the research-use-only Neoliquid blood-based test for analyzing the genomic profiles of solid tumors, as well as a hybrid capture technology for circulating tumor DNA analysis.

"We are focused on expanding our business in three fields: molecular diagnostics, services, and advanced therapies," David Stein, head of strategy and innovation at Siemens Healthineers, added in the statement. "Neo New Oncology aligns with these three fields by providing molecular diagnostics-based services and products that have the potential to guide diagnosis, as well as therapy decisions in oncology. This acquisition allows us to enter this field, an area not covered by our current business, with state-of-the-art offerings." 

The Neo New Oncology acquisition marks the latest step in an ongoing bid by Siemens Healthineers to become a key player in the molecular diagnostics space. Last month, the company disclosed a deal to integrate Thermo Fisher Scientific's real-time PCR platform into its Versant kPCR molecular diagnostics workflow, and later told GenomeWeb that it is working to expand the number of assays that take advantage of the workflow.