Biodesix Deal Adds to Active M&A Day for Medtech

Biodesix picks up Integrated Diagnostics for an undisclosed sum, in an effort to build on its lung testing franchise.

Biodesix made a move to expand its lung testing franchise on a day already buzzing with M&A activity. The Boulder, CO-based company said it was acquiring Integrated Diagnostics for an undisclosed sum.

The agreement includes the XL2 test, Seattle, WA-based lead oncology product, which offers a noninvasive means of ruling out cancer for patients with suspicious lung nodules.

The XL2 test, which requires a simple blood draw, is a pulmonary nodule classifier that measures proteins to identify lung nodules that have a high probability of being benign.

“The team at Indi has developed and substantially validated an important test that helps physicians better manage patients who present with a suspicious nodule in their lung,” David Brunel, CEO of Biodesix, said in a release. “Adding XL2 to our portfolio demonstrates our commitment to helping physicians and patients battle lung disease across a continuum of clinical presentations.”

Biodesix said it has complementary tests in its product offerings. The Biodesix VeriStrat proteomic test provides objective prognostic information independent of treatment choice, including immunotherapy. The GeneStrat genomic test measures actionable mutations for non-small cell lung cancer to further inform therapeutic decisions and monitoring.

The Biodesix deal closed out a recent string of M&A activity that began late last month. One of these deals pertains to Bio-Techne announcing it has made a proposal to acquire Exosome Diagnostics for $250 million plus $325 million in potential milestones.

Roche perhaps made the biggest splash in M&A when it announced it would acquire the remaining shares of Foundation Medicine, a company that develops genomic profiling assays to pair cancer patients with relevant treatments and clinical trials, for $2.4 billion.

Boston Scientific continued its M&A momentum when it said it would acquire Cryterion Medical, a specialist in atrial fibrillation treatment. The Marlborough, MA-based company has acquired about six companies since March.

Earlier Monday, Symmetry Surgical acquired Bovie Medical’s electrosurgical business for $97 million.

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