Benzinga | Sep 3, 2020 08:06AM EDT

Cancer Genetics And StemoniX Announce Joint Proof-of-Concept Program

RUTHERFORD, N.J., and MAPLE GROVE, MN, Sept. 03, 2020 (GLOBE NEWSWIRE) -- Cancer Genetics, Inc. (NASDAQ:CGIX), a leader in drug discovery and preclinical oncology and immuno-oncology services, and StemoniX, Inc., a company empowering the discovery of new medicines through the convergence of novel human biology and software technologies, today announced a joint proof-of-concept program.



StemoniX and vivoPharm(r), a subsidiary of Cancer Genetics, recently launched a joint proof-of-concept program to assess CNS (central nervous system) safety and toxicity of novel compounds. The Companies believe that combining capabilities and technologies from each team will save time, drive cost efficiency, and de-risk decisions, thereby establishing higher confidence in drug development success. The parties anticipate that the alliance will demonstrate the expertise of each company and be a first step for continuing to push forward and develop cutting edge drug discovery efforts.

"Our goal, in conjunction with StemoniX, is to create and offer the best-in-class and most innovative drug discovery solutions to our customers, which include leading biopharma organizations. Through the full service testing in our vivoPharm business, we are working toward de-risking the clinical and preclinical drug development pipeline," said Jay Roberts, Chief Executive Officer of Cancer Genetics. "Furthermore, the relationship sets the stage for future projects leveraging our respective core competencies."

Ping Yeh, Chief Executive Officer of StemoniX stated, "We are pleased to be aligning with Cancer Genetics. The experience of the vivoPharm team coupled with their existing relationships with the world's leading biopharma companies will allow us to expand our reach into new areas. Taking the results from our initial studies and advancing them into in-vivo models augments the work we have completed with StemoniX microBrain(r) 3D, our functional in-vitro human neural model for high-throughput screening and drug candidate selection.We are excited to have a partner who can provide the necessary additional testing for 'data ready' packages required in the regulatory approval process."

Cancer Genetics and StemoniX will look to pursue follow-on projects to further demonstrate how a combined approach brings high value to clients in the form of a complete end-to-end solution.