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PDI, Inc. Subsidiary Interpace Diagnostics Enters Molecular Diagnostics Market with Thyroid and Pancreatic Cancer Test Portfolio Acquisition
Date:8/13/2014

PARSIPPANY, N.J., Aug. 13, 2014 /PRNewswire/ -- PDI, Inc. (Nasdaq: PDII), a leading healthcare commercialization company, today announced that its Interpace Diagnostics subsidiary has entered the expanding cancer molecular diagnostics market with the acquisition of the miRInform® Thyroid and Pancreas cancer test assets from privately held Asuragen, Inc. This acquisition marks the execution of PDI's strategy to create a commercially driven molecular diagnostics business and a commitment to developing new solutions for the thyroid and pancreatic cancer testing markets.

MiRInform Thyroid is a diagnostic assay comprised of 17 markers recommended by the American Thyroid Association to detect genetic alterations that are associated with thyroid cancer. MiRInform Thyroid is a clinically useful prognosticator of thyroid cancer, which has demonstrated that the presence of these oncogenic mutations is highly correlated with malignancy with a post-test probability of thyroid cancer of 86 percent.[i] MiRInform Thyroid is currently on the market and had approximately $2 million of revenue over the past 12 months.

MiRInform Pancreas is a market-ready microRNA test expected to launch in the first half of 2015. This product has demonstrated significant clinical utility in detecting cancer in solid pancreatic tumors in a prospective clinical study.

This transaction includes the miRInform Thyroid and Pancreas tests, intellectual property related to these and other tests in development for thyroid cancer, and an extensive 5,000 plus tissue sample biobank to support life cycle management efforts. Terms of the transaction include $8 million in upfront cash, future commercial milestone-based payments and royalties.

"Today's portfolio acquisition is a pivotal step in
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SOURCE PDI, Inc.
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