$ROSGQ: NEWS..... $IDXG buys out Assets and Employees
Interpace Diagnostics (IDXG) Buys Select Assets of Rosetta Genomics Out of Bankruptcy
Interpace Diagnostics Group, Inc. (NASDAQ: IDXG) (“Interpace” or “the Company”), a fully integrated bioinformatics and commercial company that provides clinically useful molecular diagnostic tests, related first line assessments and pathology services for improved patient diagnosis and management, today announced that it has successfully acquired a majority of the equipment of Rosetta Genomics’ Philadelphia laboratory through a bankruptcy auction. Interpace acquired, for an undisclosed amount of cash, 64 select lots of laboratory assets, including freezers, refrigerators, PCR machines, advanced slide scanning equipment as well as laboratory supplies and specialty furniture. The laboratory assets will further support the Company’s CLIA and CAP certified lab expansion in its Pittsburgh, PA and New Haven, CT laboratories.
Since the bankruptcy filing of Rosetta Genomics in May 2018, the Company has also hired several former key Rosetta employees and select former Rosetta customers have transitioned their accounts to Interpace’s thyroid assays. Interpace believes it is uniquely licensed to process thyroid slide biopsies, the primary specimen type for Rosetta’s Reveal™ product.
According to Jack Stover, President and CEO of Interpace, “We are proud to be serving many of the former Rosetta customers and are very pleased to have several highly-qualified Rosetta employees join the Interpace team. The cost effective, specialty equipment we acquired will be especially helpful as we continue to expand our new product offerings, including our slide products even further, under our combined ThyGeNEXT™ / ThyraMIR® assays for indeterminate thyroid nodules.”
