In moves designed to strengthen its position as a provider of biomarker services for its life sciences partners, Precision for Medicine has announced the acquisition of biospecimen companies ProMedDx and GLAS. The acquisitions help Precision—which already operates one of the largest biorepositories in the world—to provide a broader spectrum of biospecimens.
Terms of each purchase were not disclosed.
According to a company press release the acquisition of ProMedDx and GLAS allows Precision for Medicine, part of the Precision Medicine Group, to “effectively leverage its unique insight as a scientific solutions provider to supply clients with hand-selected, fit-for-purposes specimens for R&D, biomarker development, and companion diagnostics.”
Precision has positioned itself as a company that specializes in taking a biomarker-centric approach to the development of developing precision treatments and therapies for patients.
“We believe in the power of biomarkers to lead to novel, life-changing therapies, and we remain dedicated to providing unmatched scientifically grounded global services,” said Chad Clark, president of Precision for Medicine in a statement announcing the deals. “By bringing ProMedDx and GLAS into the Precision family, we are proud to offer unparalleled, global biospecimens solutions while also expanding our footprint in the exploding Massachusetts and North Carolina biotechnology sectors.”
Cullen Taylor, M.D., founder of GLAS noted that he founded his company to bridge a gap in the provision of biospecimens to research, while providing the medical and scientific insight needed to properly serve researchers’ needs.
“By teaming up with Precision, we are able to expand this on-the-ground medical expertise to a highly advanced and expansive lab and clinical network—a hugely important distinction in the biospecimen industry,” Cullen noted.