EDP Biotech Corp. and New Day Diagnostics LLC announced their merger, joining together to focus on the expedited development and commercialization of diagnostic tests. This strategic union brings together EDP Biotech’s position as an established and growing specialty diagnostic developer and contract research organization (CRO) with New Day Diagnostics’ robust pipeline of diversified diagnostic tests and commercialization capabilities.
The shared vision of the merger is empowering patients through affordable access to diagnostic testing leading to earlier intervention. By combining their complementary expertise and resources, EDP Biotech and New Day Diagnostics aim to establish a uniquely positioned company capable of drastically improving patient lives via world-class diagnostics offerings through the merger.
This strategic merger positions the newly formed entity as an innovator throughout the entire diagnostic process, from biomarker discovery to product launch. Leveraging vertical integration and strategic partnerships, the merged company will have the ability to design, develop, and deploy diagnostic tests with efficiency and quality.
EDP Biotech Corp. currently develops ColoPlex, an aid in diagnosis for detecting colorectal cancers and polyps early, as well as serves a growing roster of diagnostic companies with its full-service CRO focused on In-Vitro Diagnostics (IVD), development, testing, and commercialization. The company also operates a CLIA lab providing business-to-business (B2B) and direct-to-consumer (DTC) testing, multiplex assays, research, and validation services.
Further Reading: EDP Biotech Receives Patent for Colorectal Cancer Detection Method
The Boca Raton-based New Day Diagnostics brings a diversified pipeline of physician point-of-care (POC) and physician mediated-direct-to-consumer (DTC) tests to the combined entity. These include a first-to-market DTC celiac disease test and additional offerings targeting infectious diseases, ovarian cancer, and prostate cancer.
Together, EDP Biotech and New Day Diagnostics plan to capitalize on the changing patient dynamics in the diagnostics industry. By leveraging their combined development capabilities, distribution channels, and strategic partnerships, the merged entity will have the ability to address multiple indications, transforming the way patients access and benefit from diagnostic testing.
“We are thrilled to announce our merger with New Day Diagnostics,” says Eric Mayer, CEO of EDP Biotech Corp. “This strategic marriage will allow us to continue delivering innovative and cost-effective diagnostic solutions, making a profound impact on patient care and outcomes including the under-served population and uninsured patients.” Eric Mayer will serve as president and CEO of the combined entity following the merger.
“By joining forces with EDP Biotech, we are strengthening our position as a leading provider of fast, accurate, and affordable diagnostic tests,” says Navroze Mehta, founder and CEO of New Day Diagnostics. “Together, we will pioneer advancements in diagnostic testing, improving patient lives through early detection and intervention.” Navroze Mehta will serve as executive chairman of the combined entity following the merger.
The newly merged entity will retain the name New Day Diagnostics, and both companies’ teams will unite under a unified leadership structure headquartered in Knoxville, Tennessee. The EDP Biotech and New Day Diagnostics merger is subject to customary closing conditions and regulatory approvals.
