Molecular Profiling Institute Acquires NanoBiomics

The Molecular Profiling Institute, Inc. (Phoenix, AZ) has announced acquisition of the assets of NanoBiomics, Inc. – an early-stage company whose mission is to develop and commercialize genomic-based diagnostics utilizing nanoscale-processing technologies created at the Applied Nanobioscience Center at Arizona State University (ASU).

NanoBiomics was formed by the Translational Genomics Research Institute (TGen) and Arizona Technology Enterprises (AzTE) with the intention to commercialize technology from both organizations. Molecular Profiling, a collaboration between TGen and the International Genomics Consortium (IGC), is a specialty reference laboratory and a leader in using genetic signatures to help tailor medical therapy. Molecular Profiling is the first for-profit spin-off venture for TGen and IGC.

"The acquisition provides Molecular Profiling with a platform for commercializing novel, genomic-based diagnostic products in the future," said Richard Love, acting president of NanoBiomics and Managing Director of TGen Accelerators. "Molecular Profiling is currently driving physician adoption of such tests in the reference lab setting. As these tests are accepted into the practice of medicine, NanoBiomics' technologies will help enable lower cost diagnostic products to be produced and commercialized more broadly."

The acquisition brings together the diagnostic platform developed by ASU, the diverse and extensive database of DNA signatures and scientific leadership from TGen, and the reference laboratory expertise and market access offered by Molecular Profiling.

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