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Diagnostics Oncology Mergers & Acquisitions

 News Release - March 29, 2024

Maverix Medical Closes Acquisition of Cirrus Bio as Foundation for Diagnostics Platform in Lung Cancer

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 -- (Healthcare Sales & Marketing Network) -- 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.

Source: Maverix Medical

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