“This acquisition brings together two industry leaders committed to enhancing access to diagnostic innovation for patients in North America,” said Jim Davis, Chairman, CEO, and President of Quest Diagnostics. “The combination of LifeLabs’ strong business and deep community presence with Quest’s specialized lab services and expertise creates a powerful opportunity to generate growth while improving care and outcomes for Canada’s expanding and aging population.”

Quest provides a comprehensive offering of tests requiring specialized skills, science, and technology in clinical areas such as cardiometabolic health, infectious diseases, Alzheimer’s disease, oncology and genomics.

“Joining forces with Quest Diagnostics marks a pivotal moment for LifeLabs. Quest’s extensive diagnostic capabilities and forward-thinking strategy will help the LifeLabs team enhance access to services and ultimately improve healthcare for Canadians,” said Charles Brown, President and CEO of LifeLabs. 

LifeLabs and its more than 6,500 employees will continue to operate under the LifeLabs brand and with the same management team and headquarters. Quest will provide LifeLabs with new expertise, innovations and resources to strengthen the services provided by LifeLabs. In addition to fostering greater access to specialized tests, the two companies will work together to improve online appointment scheduling and speed patient service centre processing. Quest will also support LifeLabs’ data security enhancements while ensuring Canadian patients’ health data remains in Canada.

“OMERS is proud to have supported and fostered LifeLabs’ growth into the prominent Canadian healthcare institution it is today,” said Michael Hill, Executive Vice President and Global Head of OMERS Infrastructure. “This transaction represents a significant achievement for OMERS and its members. We extend our best wishes to Quest and LifeLabs as they embark on their shared journey towards future success and innovation supporting patient care.”

Transaction Details
Quest has acquired 100% of the equity of LifeLabs. The transaction meets all of Quest’s criteria on growth, profitability and returns. Quest expects the transaction to generate approximately CAN $970 million (approximately USD $710 million) in annual revenues. The company expects the transaction to be slightly dilutive to GAAP earnings per share (EPS), due primarily to amortization of intangibles and other items, but $0.10-$0.15 accretive to adjusted EPS, in the first 12 months after closing. The company will provide updated financial guidance for the full year 2024 on its third quarter 2024 earnings call in October 2024. Additional terms were not disclosed.

Advisors
McCarthy Tétrault LLP served as legal advisor to Quest Diagnostics. Blake, Cassels & Graydon LLP served as legal advisor to OMERS. Evercore and CIBC Capital Markets served as financial advisors to OMERS.

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Broken String Biosciences (“Broken String”), a genomics company driving development of the next generation of more precise, safe, and effective cell and gene therapies, today announced it has appointed Steve Becker as Chief Commercial Officer. An experienced global life sciences executive, Steve will guide the expansion of the Company’s commercial operations and implement a robust go-to-market strategy for its Next-Generation Sequencing (NGS)-based DNA break-mapping platform, INDUCE-seq^®, as the Company looks to strengthen its position across key markets.

Following the close of its $15M Series A funding round in 2023, Broken String has been focused on delivering an ambitious expansion strategy and revenue growth, including several high-profile leadership appointments. Further bolstering the executive team, Steve will direct the commercialization strategy for the INDUCE-seq platform to ensure it meets the unique needs of the emerging cell and gene therapy market, including development of a scalable ‘Platform as a Service’ offering and extension of the technology’s capabilities beyond gene-editing. He will lead the global sales and marketing teams, business development function, and technical support operations, including building the Company’s US commercial operations to nurture its growing network of customers and commercial partners.

Steve is a renowned leader in the industry, with over 30 years’ experience managing diverse teams to develop scalable market development strategies, across start-ups and multi-national organizations. He has successfully launched numerous clinical molecular diagnostics assays and spearheaded strategic growth initiatives for premier life science tools companies. He joins Broken String from Thermo Fisher Scientific, where he led the licensing and commercial supply channel for the Genetic Sciences and Clinical Oncology NGS divisions, responsible for building commercial partnerships and managing large contract deals to expand the Company’s global customer base. Prior to this, he held executive level positions at Quest Diagnostics, Athena Diagnostics, Inc. and RainDance Technologies, in addition to leadership roles at Agilent Technologies and GE Healthcare.

Steve Becker, CCO, Broken String Biosciences, commented: “What attracted me to Broken String Biosciences was its game-changing technology and talented team of dedicated pioneers changing the way we look at cell and gene therapy development. The Company is at the forefront of the field, supporting developers to ensure these transformative treatments can become a safe reality for patients.” He added: “I’m keen to hit the ground running as part of the leadership team, to build robust partnerships and create an exceptional customer experience. I’m excited about the role we will play in accelerating broad accessibility of cell and gene therapies that will profoundly impact human health.”

Felix Dobbs PhD, CEO, Broken String Biosciences, said: “We’re delighted that Steve is joining us to lead the Company’s commercial activities based out of Boston MA. As we enter our next stage of commercial growth and focus on establishing broad adoption of the INDUCE-seq platform, Steve’s support will be pivotal in executing the successful launch of our commercial offering, as well as establishing strong partnerships with leading academic and industry players in the genomics and cell & gene therapy markets.”

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Earlier this year, Inocras launched its CancerVision assay, employing target enhanced whole genome sequencing (TE-WGS) for comprehensive analysis of solid tumors. This novel methodology enriches WGS insights with targeted deep sequencing of clinically relevant regions, delivering the breadth of whole genome analysis and the depth required for precise characterization of key oncogenic drivers and actionable mutations. By effectively differentiating between tumor-specific alterations and inherited sequences, the assay significantly increases the accuracy of somatic variant detection across diverse populations – with sensitivity above 99% for both single nucleotide variants (SNVs) and insertions/deletions (indels).

During development, Inocras rigorously tested several library preparation chemistries and ultimately selected the Watchmaker DNA Library Prep Kits with Fragmentation for its high library conversion efficiency, low-bias sequence coverage, and excellent sequence accuracy with challenging formalin-fixed, paraffin-embedded (FFPE) tissues.

“We’re proud to demonstrate the power of whole genome sequencing and analytics through our diagnostics products. Our collaboration with Watchmaker has been important in driving this innovation, and we are excited to continue our partnership on upcoming laboratory-developed assays,” said Stephanie Ferguson, Inocras’s Chief Clinical Operations Officer. “Our shared commitment to excellence has been a catalyst for innovation.”

“We are impressed with Inocras’s sophisticated approach for improving somatic mutation detection accuracy, and we look forward to collaborating on future assays that harness the power of whole genome insights,” said Kerri Stellato, Chief Commercial Officer at Watchmaker.

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Illumina Ventures, a leading genomics and precision health venture firm, today announced that Timothy Stenzel, MD, PhD, and Jerry Steiner have joined the team as Advisors. Together, they bring more than 60 years of executive leadership experience in molecular diagnostics and agribusinesses, respectively.

Dr. Stenzel is the former director of the US Food and Drug Administration’s (FDA) Office of In Vitro Diagnostics and has an extensive scientific background in molecular diagnostics, genetics, oncology and infectious diseases. During his five-year tenure at the FDA, he was known for working with multiple constituencies to create solutions to secure patient access to reliable tests. Prior to his government service, Dr. Stenzel held leadership roles in both industry and academia. As the chief operating officer of Invivoscribe, he helped to launch more than 22 new products and services, including an FDA-approved companion diagnostic for Novartis’ drug Rydapt (midostaurin). While serving as the chief scientific officer of Quidel Corporation, he led the creation of their molecular diagnostics franchise, which now has more than 23 cleared products with significant revenue. Dr. Stenzel also served on the Duke University School of Medicine faculty for 21 years and founded its Clinical Molecular Diagnostics laboratory. He became board-certified in Molecular Genetics and Pathology after receiving his MD and PhD in Microbiology and Immunology from Duke.

“Tim’s depth and breadth of experience in all aspects of the diagnostics industry will be invaluable to us as we navigate an increasingly complex and changing business and regulatory environment,” said Nick Naclerio, Founding Partner at Illumina Ventures. “We remain committed to identifying and supporting the next generation of innovative diagnostics companies.”

Mr. Steiner is the former executive vice president of Sustainability and Global Corporate Affairs for Monsanto and brings a deep understanding of the opportunities and challenges associated with using genomics to make agriculture more sustainable. He was part of the team that transformed Monsanto from a chemical company to an agricultural biotech company while overcoming complex regulatory, public relations, and business model challenges. He also held roles as vice president of Product and Corporate Strategy and general manager in the US and Europe.

After leaving Monsanto, Mr. Steiner co-founded and served as the chief executive officer of CoverCress, commercializing a new winter cash crop for Midwest farmers that protects the soil, and then led its successful sale in 2022. Currently, he serves as the executive chairman of Pluton Biosciences, an Illumina Ventures portfolio company that harnesses microbes to develop sustainable solutions for agriculture and climate, as well as a number of other private companies. Earlier in his career, he was part of the leadership team at Celera Genomics.

Mr. Steiner was raised on his family’s farm in Wisconsin. He received a Master of Business Administration from Washington University in St. Louis after earning a Bachelor of Science in Agricultural Economics from the University of Wisconsin.

“Jerry brings a deep understanding of the agricultural biotech business and is helping us identify opportunities where the power of genomics can make agriculture more sustainable,” said Dr. Naclerio. “After seeing the transformative effects that genomics is having in human healthcare, we are committed to finding profitable ways to apply the same science and technology to help mitigate and adapt to challenges of global climate change.”

“We continue to add to our depth of knowledge and operational experience to improve human and planetary health with industry thought leaders like Dr. Stenzel and Mr. Steiner,” added Dr. Naclerio.

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LifeGraph is set to revolutionize Texas A&M Health’s PROVENANCE clinicogenomics registry programs by empowering all data stakeholders, including researchers, institutional stewards, and patients. Through privacy-preserving techniques, dynamic consent, and federated learning approaches, LifeGraph helps Texas A&M Health mitigate the risks and challenges associated with relying solely on deidentification methods for genomic data governance. This innovative solution ensures a secure and efficient data management system for all involved parties.

Texas A&M Health is leveraging LifeGraph to create a comprehensive patient profile – a LifeGraph – that combines patient and population medical data with genomics, social determinants of health, real-world data, ambient data, and knowledge bases such as ClinGen and PharmGKB. This holistic view will empower researchers with the real-world, contextualized data they need to discover new insights and build computational models for superior clinical decision support. The next-gen collaborative research network will provide external researchers and patients alike with the ability to access research studies that benefit them and make more informed decisions about their participation in genomic research. Ultimately, **Texas A&M Health** aims to strengthen patient-researcher agency in data governance, increase access and trust for underrepresented individuals, accelerate the scale of clinicogenomic research, and enhance the implementation of precision medicine tools, thereby improving patient outcomes and offering a hopeful future for healthcare.

“LifeGraph provides a unique foundation for a modern, data-driven, and scalable approach to collaborative genomics research,” said Rick Silva, PhD, Executive Director of Clinical, Translational, and Industry Collaborations at Texas A&M Health’s Institute of Biosciences and Technology, Center for Precision and Genomic Medicine. “By securely linking clinical and non-clinical data in knowledge graphs and allowing patients to make informed decisions about participating in clinical research across time and the patient journey, we can better support patients, institutional data stewards, and enable researchers to derive more value from data. Now we can harness the power of real-world data to transform clinicogenomics research.”

“We are incredibly excited to partner with Texas A&M Health on this revolutionary initiative,” expressed Frank Ricotta, CEO at BurstIQ. “LifeGraph’s secure handling of sensitive healthcare data opens up new possibilities for transforming research and positively impacting the lives of patients.”

This project will also explore the long-term goal of developing a secure system for sharing this data with external collaborators, ultimately aiming to improve healthcare for all.

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Dr. Matthew Schwartz brings over 18 years of experience in the care of cancer patients using radiotherapy treatments and precision oncology. He currently serves as a practicing Radiation Oncologist at Comprehensive Cancer Centers of Nevada. “I am honored to join IMAC’s board of directors and contribute to the groundbreaking work being done in the field of proteomic precision oncology. I am excited to collaborate with IMAC’s talented team to revolutionize the treatment of cancer patients through our cutting-edge proteomic technologies by finding the right treatment for the right patient at the right time,” said Dr. Schwartz.

Dr. Peter Beitsch has a strong background in surgical oncology and genomics and is actively involved in breast cancer research. He currently serves as the Co-Founder of Targeted Medical Education and The Breast Care Network, as well as Co-PI of the iGAP Registry on the Digital Health Platform at InVitae. “I am excited to join the board at the time of the launch of IMAC’s proteomics business. I’ve always been surprised that we as physicians utilize surrogates of the actual targets of the pharmaceuticals that we use. IMAC’s proteomics business will begin a new era in which we can determine which drugs will work on which proteins are actually driving the patient’s cancer,” said Dr. Beitsch.

Dr. Schwartz’s and Dr. Beitsch’s expertise will be instrumental in guiding the Company’s strategic initiatives and enhancing its research capabilities.

“We are thrilled to welcome Dr. Peter Beitsch and Dr. Matthew Schwartz to our Board of Directors,” said Faith Zaslavsky, President and CEO at IMAC. “Their combined expertise and vision will be instrumental in steering the Company towards new heights of innovation and success in the field of proteomics. Their insights will be pivotal as we advance our mission to empower researchers and oncologists with cutting-edge proteomic solutions.”

About IMAC and Ignite Proteomics: IMAC, through its wholly-owned subsidiary Ignite Proteomics, is a pioneering company dedicated to revolutionizing proteomics research through innovative technologies and solutions. By using its novel Reverse Phase Protein Arrays (RPPA), Ignite Proteomics is able to go beyond genetics and genomics to aid in treatment decision making for Oncologists.

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Less than five months after its launch, French startup Bioptimus has announced the release of H-optimus-0, the world’s largest open-source AI foundation model for pathology. With 1.1 billion parameters, H-optimus-0 is trained on a proprietary dataset of several hundreds of millions of images extracted from over 500,000 histopathology slides across 4,000 clinical practices. This sets a new benchmark for state-of-the-art performance in several critical medical diagnostic tasks, from identifying cancerous cells to detecting genetic abnormalities in the tumor.

Rodolphe Jenatton, CTO of Bioptimus: “Having launched less than five months ago, we are excited to introduce H-optimus-0, a fully open-source model that represents a significant leap forward in the field of pathology. We are committed to advancing medical research and improving patient care. By encouraging collaboration and the adoption of new practices, we aim to speed up innovations in pathology and beyond, ultimately benefiting patients worldwide.”

Pathology is the cornerstone of disease diagnosis, requiring meticulous examination of tissue samples to identify abnormalities. Traditionally, this process relies heavily on pathologists’ expertise and experience. However, the increasing complexity and volume of cases necessitate advanced tools that can assist pathologists in making faster, more accurate diagnoses.

H-optimus-0 Key Features and Capabilities

• Unmatched Scale and Performance: With 1.1 billion parameters, H-optimus-0 is the largest open-source AI model tailored specifically for pathology, ensuring comprehensive analysis and high accuracy.
• Extensive Training Dataset: Trained on a vast dataset of over 500,000 pathology slides, H-optimus-0 has been exposed to a diverse array of cases, enabling it to generalize effectively across different diagnostic scenarios.
• State-of-the-Art Diagnostics: H-optimus-0 achieves state-of-the-art performance in several key diagnostics tasks, consistently meeting the performance or outperforming existing models and setting new standards in the field. The model was assessed on 5 tile-level tasks to identify tissue types or tissue characteristics and 6 slide-level tasks to detect the presence of biomarkers or the presence of metastasis across several cancer types.
• Open Source Availability: As an open-source model, H-optimus-0 can be utilized by researchers to accelerate the development of novel digital pathology models and will foster collaboration among researchers, clinicians, and developers, driving further advancements and solutions in pathology AI.

With its unprecedented scale and depth of training within the open-source community, H-optimus-0 leverages cutting-edge AI technology to enhance the precision and efficiency of pathology diagnostics.

Professor Jean-Philippe Vert, PhD, co-founder and CEO of Bioptimus, said: “H-optimus-0 is just the beginning. It marks the first in a long series of models we will create at Bioptimus, each more advanced and comprehensive than the last. Future models will not only be trained on an even larger number of pathology images from Europe, Asia and Africa but will also incorporate other modalities, such as genomics and proteomics. Our ultimate goal is to create the first multiscale foundation model of biology, capable of integrating diverse biological data and scales to enable scientific discoveries and accelerate biomedical innovations.”

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Led by CUNY SPH faculty Levi Waldron and Sehyun Oh, the project aims to enhance and expand the Bioconductor ecosystem, a cornerstone resource for statistical analysis and data management in cancer genomics research. The grant, totaling $5.2 million, will fund collaborative efforts with the Channing Division of Network Medicine at Mass General Brigham in Boston, the University of Colorado, and the University of Padova in Italy.

“This renewal represents a significant vote of confidence in our past 10 years of work and our ideas for the next five years,” said Dr. Waldron. “It will allow us to address the evolving challenges in cancer genomics, particularly in the realm of single-cell and spatial molecular profiling technologies.”

The project focuses on four main objectives: expanding infrastructure for multimodal experiments and spatial transcriptomics; transitioning to a federated, language-agnostic data-sharing system; creating curated and integrated data repositories; and developing comprehensive user training programs, including a cloud-based learning platform.

The authors aim to empower researchers with advanced tools and resources for cancer genomics research, potentially accelerating discoveries that could lead to improved cancer diagnostics and treatments.

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This collaboration between MGI and SeqOne encompasses three distinct initiatives:

Validating an end-to-end, automated, cost-effective solution for HRD signature with MGI DNBSEQ-G99

The collaboration between a Pathology Reference Lab in Spain, Agilent Technologies, MGI, and SeqOne aims to technically validate a routine workflow leveraging Agilent panels, Magnis lib prep automation, MGI DNBSEQ-G99, and SeqOne somaHRD, a clinically validated HRD signature solution, on 96 samples.

This end-to-end solution for pathology molecular labs will enable high-quality, efficient, and flexible HRD testing worldwide, including Genomic Instability score and BRCA testing.

Enabling and validating SeqOne tertiary analysis solution compatible with MGI Megabolt for Germline Panels, Whole Exome and Whole Genome

MegaBOLT bioinformatics analysis accelerator, self-developed and MPS-concentrated hardware accelerating system by MGI, is set to ensure seamless integration and compatibility with SeqOne’s AI-powered variants identification and analysis solution.

The collaboration aims to combine MegaBOLT and the SeqOne Platform to deliver a versatile, cost-effective, intuitive, and time-saving solution from sample to report, particularly attractive for high-throughput Human Genetics labs.

Validating SeqOne CE-IVD Platform for Germline and Somatic analysis for use with MGI sequencers in routine diagnostics

This technical validation project aims to evaluate the compatibility of the SeqOne Platform with MGI sequencing data. It will validate variant calling performances on a set of reference control samples in terms of QC, sensitivity and precision.

“We are thrilled to announce our collaboration with SeqOne. By combining MGI’s cutting-edge sequencing technology with SeqOne’s innovative genomic analysis Platform, we are poised to deliver real insights and solutions for personalized healthcare,” said Dr. Yong Hou, General Manager of MGI Europe and Africa. “This collaboration underscores our commitment to advancing genomic research and providing clinicians with the tools they need to offer tailored treatments to their patients.”

“This partnership with MGI strongly supports SeqOne’s mission to broaden access to sophisticated genomic analysis, aiming to improve healthcare outcomes,” said Martin Dubuc, CEO, SeqOne. “Molecular laboratories globally are exploring how MGI’s sequencing and bioinformatics technologies can advance next-generation sequencing (NGS) research and diagnostics. We are eager to integrate SeqOne’s CE-IVD Platform with MGI’s offerings, enhancing the quality, sensitivity, and precision of bioinformatic analyses.”

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The new solution consists of an automated full-process product portfolio designed for large-scale molecular breeding genotyping of agricultural diploid species. The full workflow covers extraction, library preparation, sequencing, and SNP & InDel calling.

The new MGIEasy Large-scale PCR-Free FS Library Prep Set for Low-pass WGS, available in two specifications, 96RXN and 384RXN, is designed specifically for Low-pass WGS applications with a new plate-based library preparation reagent module. Compared with common PCR-free library preparation sets on the market, this kit cuts the purification step and completes library construction in three easy steps, reducing the time and consumables required.

In combination with MGI’s advanced automation platforms, the Low-pass WGS solution breaks through the limit on throughput as seen in ordinary library preparation. It utilizes the fewer number of automated tools to match ultra-high throughput, as while maintaining a high degree of automation. As a result, large-scale library preparation can be done in a short time, at low cost, and with great automation friendliness.

For sequencing, the product bundles for high throughput and medium throughput Low-pass WGS feature the ultra-high-throughput DNBSEQ-T7 sequencer and the versatile DNBSEQ-G400 benchtop sequencer respectively, empowering large-scale agricultural genomics research projects in a short time.

The initial workflow released includes a pig reference panel and a data analysis software that has been based on GLIMPSE2, allowing users to perform pig genotyping without having to build their own database. Free format conversion service is also available for users with an existing reference panel to be compatible with the analysis software.

“Since genome selection was widely used in agricultural breeding, genotyping tools went through several iterations, sequencing technology gradually shows its irreplaceable advantages,” said Duncan Yu, President of MGI. “Low-pass WGS has been applied in both animal and plant breeding, but not without implementation challenges. Our new total solution for large-scale pig breeding addresses these user pain points and promises flexible automation needs, simplified library preparation, high throughput sequencing, and efficient data processing.”

Bolstered by MGI’s powerhouse instruments, this agricultural Low-pass WGS solution has a daily throughput of 96 to 1,536 samples and annual throughput of 24,000 to 384,000 samples (based on the 1.0X depth of a pig genome and an average sample data output of 3G). It has also obtained high-accuracy SNP results from 0.5~1X Low-pass in pig ear tissue samples, demonstrating 98.4% consistency with the SNP array and 98.1% with 50X WGS. Together with MGI’s self-developed MegaBOLT bioinformatics analysis accelerator, it can analyse 192 pig 1.0X samples daily, and approximately 1,536 per day with ZBOLT Pro.

Compared to traditional genotyping by microarray, MGI’s new solution offers genome-wide data at the same cost but captures a broader range of genetic variation, enhances the discovery of new variants, and increases the statistical power of genome-wide studies, all while eliminating high design and start-up costs associated with microarrays. The dynamic features of this solution enable continuous updates and optimizations in genomic analyses.

“As a provider of core tools in life science, MGI is committed to providing agricultural scientists and breeders with high-quality, convenient, and reliable genome products, while actively driving the growth of agricultural research and industry,” added Yu.

The Low-pass WGS product and workflow will be available for orders starting on June 30th. For further information on MGI’s latest whole workflow agricultural large-scale Low-pass WGS solution, please visit mgi-tech.com.

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