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Signal Genetics Agrees to Buy ChipDX to Gain Cancer Diagnostics

Feb. 2 (Bloomberg) -- Signal Genetics, a closely held cancer testing company, agreed to buy ChipDX LLC to add diagnostic products in development for lung, breast and colon cancers.

The acquisition also adds closely held ChipDX’s technology to enable for remote interpretation of tests, New York-based Signal said today. Financial details weren’t disclosed.

Signal makes a prognostic test for multiple myeloma called MyPRS Plus, and will use its sales team to bring ChipDX’s products to market, the company said. ChipDX’s BreastGeneDX, ColonGeneDX and LungGeneDX products are designed to determine patients’ cancer risk levels.

“The acquisition of the intellectual property and patents of ChipDX dramatically expands and enhances our oncology pipeline,” Signal Chief Executive Officer Joe Hernandez said in a statement. “The addition of ChipDX’s bioinformatics capabilities drastically reduces our time to market with novel molecular tests designed to facilitate better patient outcomes at a lower cost profile.”

To contact the reporter on this story: Meg Tirrell in New York at mtirrell@bloomberg.net

To contact the editor responsible for this story: Reg Gale at rgale5@bloomberg.net

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