EDP Biotech has announced an asset merger with New Day Diagnostics to form a vertically integrated diagnostic company to advance the development and commercialisation of diagnostic tests.
The merged company will operate as New Day Diagnostics.
It will use vertical integration and strategic partnerships to efficiently design, develop and deploy diagnostic tests.
The company can address multiple indications by leveraging the combined development capabilities, strategic partnerships and distribution channels.
EDP offers an in vitro diagnostic assay called ColoPlex, which helps identify pre-cancerous cancer polyps and colorectal cancer early.
As a full-service contract research organisation, the company assists diagnostic companies by offering in-vitro diagnostics, development, testing and commercialisation services.
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Furthermore, it manages clinical laboratory improvement amendments lab that offers direct-to-consumer (DTC) and business-to-business testing, multiplex assays, research and validation services.
New Day Diagnostics founder and CEO Navroze Mehta said: “Together, we will pioneer advancements in diagnostic testing, improving patient lives through early detection and intervention.”
Following the merger, Mehta will serve as executive chairman and EDP Biotech CEO Eric Mayer as president and CEO of the combined company.
New Day Diagnostics adds several physician point-of-care and physician-mediated DTC tests to the merged entity.
They include DTC celiac disease tests and additional products for the detection of prostate cancer, ovarian cancer and infectious diseases.
The combination of both entities is subject to customary closing conditions and regulatory approvals.