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PORTLAND, Ore. and CAMBRIDGE, Mass., Feb. 21, 2019 (GLOBE NEWSWIRE) -- MolecularMD Corporation, a molecular diagnostic specialty laboratory that enables the development and commercialisation of precision medicines in oncology, announced today that it has been acquired by ICON plc (NASDAQ: ICLR). MolecularMD’s extensive scientific and clinical biomarker experience expands ICON’s capabilities in molecular diagnostic testing and also adds expanded testing platforms, including next-generation sequencing and immunohistochemistry, to ICON’s laboratory service offering. MolecularMD’s specialty central laboratory offering and associated client base extends ICON’s reach into the support of precision medicine programs across all phases of drug – diagnostic co-development.
Founded in Dublin, Ireland in 1990, ICON is a global provider of drug development solutions and services to the pharmaceutical, biotechnology and medical device industries. In support of its global clinical development programs, ICON operates a global network of fully accredited laboratory facilities, including Central Laboratories in Dublin, Ireland, Farmingdale NY, Singapore and Tianjin, China. ICON also has a Bioanalytical Laboratory in Whitesboro, NY.
The acquisition by ICON provides MolecularMD’s client base access to a comprehensive range of services offered globally to support drug development programs. For over a decade, MolecularMD has built capabilities and experience in drug-diagnostic co-development and is highly respected within the industry and with regulatory agencies.
“We remain committed to providing agile clinical trial assay development across technology platforms and extending all the way through regulatory approval and commercialisation of companion diagnostics,” commented Dan Snyder, President, MolecularMD. “The integration with ICON’s full spectrum of drug development services across all therapeutic areas and global reach will be recognised as very high value to our pharmaceutical and biotechnology clients.”
Dr. Steve Cutler, Chief Executive Officer, ICON plc, said: “We are committed to expanding the testing we offer into specialised areas so that we can help customers to maximize the value of laboratory data to accelerate timelines and reduce development costs. MolecularMD enhances our laboratory offering in molecular diagnostic testing, a key area in oncology research, and brings to ICON expanded testing platforms and diagnostic services. MolecularMD is a recognised leader in the analytical development and clinical validation of molecular diagnostic assays and we are delighted to welcome their team of experts to ICON.”
MolecularMD Corporation is a diagnostics company that enables the development and commercialisation of precision medicines in oncology. Its tests are designed to allow appropriate selection, monitoring and management of patients treated with molecularly-targeted and immuno-oncology cancer therapies. MolecularMD integrates gold standard and innovative platform technologies with custom clinical assay design and validation to accelerate all phases of clinical development, including FDA approval and commercialisation of in vitro companion diagnostic tests for novel anti-cancer agents. MolecularMD is the exclusive manufacturer of the MRDx® BCR-ABL Test. For more information please visit www.molecularmd.com and www.mrdxtest.com.
About ICON plc
ICON plc is a global provider of outsourced drug development and commercialisation solutions and services to the pharmaceutical, biotechnology, medical device and government and public health organisations. The company specialises in the strategic development, management and analysis of programs that support clinical development - from compound selection to Phase I-IV clinical studies. With headquarters in Dublin, Ireland, ICON currently, operates from 89 locations in 37 countries and has approximately 13,670 employees.
Further information is available at www.iconplc.com
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