SAN DIEGO, May 9, 2022 /PRNewswire/ -- Hitachi High-Tech Corporation ("Hitachi High-Tech") has entered into a strategic partnership (the Partnership) with Invivoscribe, Inc. ("Invivoscribe"),
a global provider of blood cancer testing kits and services, by undertaking a minority investment-based, third-party allotment of shares. The Partnership aims to accelerate the molecular diagnostics and precision medicine businesses of both companies by combining Invivoscribe's technology, assay and bioinformatics development, global clinical testing, and international regulatory expertise with Hitachi High-Tech's core expertise in measurement and analysis systems technologies.
Invivoscribe is a privately-held, California-based life science corporation with seven wholly-owned subsidiaries in five countries, including clinical laboratories in four countries. Invivoscribe is engaged in three core business functions: 1) testing services for blood cancers, 2) global sales and distribution of test kits and licensing bioinformatics software, and 3) the development and commercialization of companion diagnostics to support pharmaceutical approval of new oncology treatments.
Hitachi High-Tech's Analytical & Medical Solutions Business aims to support emerging businesses in the life science and healthcare industries while building out its own in vitro diagnostics (IVD) business. This Partnership is part of Hitachi High Tech's growth strategy of strengthening this molecular diagnostics business, whose mission is to contribute to the early detection and treatment of cancer, and discover new drugs, by providing molecular cancer diagnostics to all people, thereby realizing a healthy and secure society.
Through this strategic partnership, Hitachi High-Tech aims to cooperate across development, manufacturing, sales and testing services, while developing systems that provide solutions that better address the on-site needs of cancer diagnosis and monitoring throughout the course of treatment.
"Invivoscribe is excited at the synergistic opportunities, combining our core expertise in global standardization of tests and bioinformatics, our clinical lab services, and our processes for developing custom companion diagnostics from analytical/clinical validations through international regulatory approvals and commercialization, with Hitachi's expertise in instrumentation development and manufacturing," said Jeffrey Miller, CEO and founder of Invivoscribe. "Hitachi manufactures and distributes in vitro diagnostic instruments that we currently use to standardize testing for the international community; we are looking forward to further deepening our Partnership so we can advance precision medicine worldwide."
"Hitachi High-Tech has been strengthening its molecular diagnosis business centered on genetic testing. By combining Invivoscribe's testing service business with our equipment business, we aim to build a unique business model and provide a wide range of services to medical professionals," said Yoshimitsu Takagi, Vice President and Executive Officer, and General Manager, Analytical & Medical Solution Business Group of Hitachi High-Tech.
Invivoscribe has been Improving Lives with Precision Diagnostics® for more than twenty-five years, advancing the field of precision medicine by developing and selling standardized reagents, tests, and bioinformatics tools to more than 700 customers in 160 countries. Invivoscribe also has a significant impact on global health working with pharmaceutical companies to accelerate approvals of new drugs and treatments by supporting international clinical trials, developing, commercializing companion diagnostics, and providing expertise in both regulatory and laboratory services. With its proven ability to provide global access to distributable reagents, kits, and controls, as well as clinical trial services through our international clinical lab subsidiaries (LabPMM), Invivoscribe has demonstrated it is an ideal partner. For additional information please visit: www.invivoscribe.com or contact Invivoscribe at: firstname.lastname@example.org.
About Hitachi High-Tech
Hitachi High-Tech, headquartered in Tokyo, Japan, is engaged in activities in a broad range of fields, including manufacture and sales of clinical analyzers, biotechnology products, and analytical instruments, semiconductor manufacturing equipment and analysis equipment. and providing high value-added solutions in fields of social & industrial infrastructures and mobility, etc. The company's consolidated revenues for FY 2021 were approximately JPY 576.8 billion [USD 5.1 billion]. For further information, visit http://www.hitachi-hightech.com/global/
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SOURCE Invivoscribe, Inc
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