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news.Exiqon, a biotech company, has adopted a new name for its clinical laboratory diagnostics business, Exiqon Diagnostics, to signal the company's commitment to expanding its business to a broad offering in molecular and cellular-based diagnostics that guide treatment decisions in oncology.
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Since the acquisition, Exiqon has been integrating Oncotech and Exiqon to form ‘one company’ with multiple business divisions. Oncotech represents Exiqon’s diagnostics division and as part of this integration plan, Exiqon is adopting the new name to better reflect this role within the company. The Oncotech name will continue to remain visible through the re-branding of the extreme drug resistance assay as the Oncotech EDR Assay.
As Exiqon Diagnostics, the business unit will be leveraging the intellectual property and R&D pipeline from Exiqon to establish a menu of innovative diagnostic tests that guide physicians in selecting the most appropriate therapies for their patients, said Exiqon.
Going forward, Exiqon will create a parallel nomenclature for its three revenue driving businesses – the diagnostic business will conduct its business under the name Exiqon Diagnostics, the tools business, based on sales of innovative proprietary reagents for miRNA research will adopt the name Exiqon Life Sciences and the contract research business focused on pharmaceutical companies will be called Exiqon Pharma Services.
Lars Kongsbak, president and CEO of Exiqon, said: “We are excited to adopt this name for our business as it will show to our customers and their patients that Oncotech is undergoing a positive transformation that will lead to a more valuable and comprehensive offering.”