The acquisition adds a Medicare-reimbursed liquid biopsy platform for viral-mediated cancer monitoring to the company’s precision medicine portfolio.
CareDx Inc has entered into a definitive agreement to acquire Naveris, a precision oncology diagnostics company specializing in blood-based monitoring for viral-mediated cancers. The transaction includes an upfront cash payment of $160 million, with the potential for an additional $100 million based on the achievement of future revenue milestones.
The acquisition extends CareDx’s strategy into specialty oncology through a platform addressing an estimated $4.5 billion market. Naveris developed a liquid biopsy platform based on Tumor Tissue Modified Viral (TTMV) DNA, which measures fragments of viral DNA released from tumor tissue into the bloodstream.
This technology serves as a biomarker for human papillomavirus (HPV)-driven cancers and is designed to support patient management from initial diagnosis through post-treatment molecular residual disease (MRD) surveillance.
“Today’s announcement accelerates our growth strategy in Precision Medicine Testing Services and Patient & Digital Solutions. We are focused on being a leader in concentrated specialty markets where a high burden of disease drives repeat testing. Naveris fits that profile with a differentiated technology that is early in its adoption,” says John Hanna, president and CEO of CareDx, in a release.
Expanding Oncology Testing Services
Naveris currently employs approximately 100 individuals and has performed more than 130,000 commercial tests. Its liquid biopsy solution received Medicare coverage in 2023 and is primarily used for MRD surveillance in head and neck and anal cancers.
“Naveris has developed and commercialized a liquid biopsy monitoring platform proven to detect cancer earlier and with greater accuracy than conventional approaches. We are thrilled to be combining forces with CareDx to fulfill our mission of improving patient outcomes by delivering disruptive technology that transforms cancer care and expanding patient access to precision medicine,” says James B McNally, chief executive officer of Naveris, in a release.
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