New diagnostic division will acquire, invest in, and develop
a portfolio of diagnostic solutions for the screening, diagnosis,
and management of lung cancer.
MENLO
PARK, Calif., March 29,
2024 /PRNewswire/ -- Maverix Medical, a dedicated
lung cancer platform established by Ajax Health, KKR, and Hologic,
Inc., today announced the acquisition of Cirrus Bio for an
undisclosed amount.
Cirrus Bio develops and brings to market multiomic solutions for
the diagnosis and management of diseases where early detection
plays a critical role in clinical outcomes. The founders of Cirrus
Bio, David Mallery (CEO) and
Scott Morris (CSO), have previously
founded and led the Molecular Profiling Institute (acquired by
Caris Life Sciences), Paradigm Diagnostics (acquired by Exact
Sciences), Viomics (acquired by Exact Sciences), and the
International Genomics Consortium (non-profit supported by the
National Cancer Institute).
As part of the acquisition, Maverix also announced the formation
of a dedicated diagnostic division called Maverix Dx that will
develop, invest in, acquire, and bring to market a suite of
diagnostic tools for lung cancer. David
Mallery will serve as the Chief Executive Officer of Maverix
Dx and Scott Morris as the Chief
Scientific Officer. In these roles, they will continue to develop
new diagnostic technologies, while also driving platform M&A
and strategic investments.
"Lung cancer remains the largest cancer killer, by far. The only
way to improve survival rates for this extremely aggressive disease
is to catch it early and act decisively. This acquisition gives
Maverix unparalleled technology, talent, and expertise in early
cancer detection, and will serve as the foundation for a broader
diagnostic portfolio with the potential to transform lung cancer
care," said Duke Rohlen, Executive
Chairman, Maverix Medical.
Cirrus represents the second major new product platform for
Maverix. The first—Serpex Medical, announced at closing—has
developed and obtained 510k clearance
for steerable technologies that can precisely target lung tissue
for biopsy or therapy delivery. Serpex will continue to serve as
the foundation for the medical device division of Maverix, called
Maverix Med Device, led by Serpex founder and CEO Sasha Schrode. Together, Maverix Dx and Maverix
Med Device will equip clinicians with the full range of diagnostic
and interventional tools required for effective lung cancer
treatment.
"As we evaluate the lung cancer market, we see tremendous unmet
clinical need and a rich opportunity set for both internal
development and acquisitions. We are far from the only ones working
on this tough clinical problem, and we look forward to partnering
with other innovators to discover and validate new techniques for
improving lung cancer care," said David
Mallery, CEO, Maverix Dx.
With the support of its financial sponsors and advisors, KKR and
Hologic, Maverix Medical continues to invest in both development-
and commercial-stage lung cancer companies and welcomes
opportunities to collaborate with innovators, entrepreneurs,
clinicians, and industry leaders.
Contact:
Diagnostic Inquiries – David
Mallery, CEO, Maverix DX - dmallery@maverixmedical.com
Medical Device Inquiries – Sasha Schrode, CEO, Maverix Med
Device - sschrode@maverixmedical.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/maverix-medical-closes-acquisition-of-cirrus-bio-as-foundation-for-diagnostics-platform-in-lung-cancer-302103254.html
SOURCE Maverix Medical