New Day Diagnostics has signed an agreement to acquire all of the assets and intellectual property of Epigenomics, a molecular diagnostics company involved in blood testing for the early detection of cancer.

This agreement comes after discussions that were earlier announced by Epigenomics in its ad hoc statement on 12 June 2023.

The latest development comes soon after New Day Diagnostics’ announcement of the merger with EDP Biotech earlier this month.

New Day Diagnostics aims to advance its goal of providing affordable early detection tools with this Epigenomics deal, which will also help New Day Diagnostics to boost its cancer diagnostics portfolio and add proprietary biomarker technology for detecting methylated DNA in different cancer indications, such as Epi proColon, a screening tool designed for non-invasive detection of colorectal cancer.

The deal is additionally expected to facilitate the commercialisation of Epi proColon’s ‘next-gen’ offering.

Financial terms of the agreement have not been revealed.

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New Day Diagnostics CEO Eric Mayer said: “We began a mission nearly two decades ago to drive accessibility of cost-effective early detection products.

“The addition of Epi proColon expands the company portfolio to include a much-needed, non-invasive CRC screening test that is both affordable and convenient.

“And we are excited to explore additional possibilities for the methylated DNA biomarker in improving patient outcomes for other indications.”

New Day Diagnostics is primarily focused on designing, developing and marketing diagnostic tests and Epigenomics executive Jens Ravens said: “There is a great deal of strategic alignment between our companies.

“Because of this, I feel confident that the best of our products and biomarker technology will move into the next chapter of bringing a blood-based colorectal cancer diagnostic to the market that is both affordable and accessible.”