Siemens Healthineers has acquired Germany-based Neo New Oncology to expand its diagnostics portfolio.
Neo New Oncology has developed cancer genome diagnostic platform, which will enable pathologists and oncologists to collect molecular information for select targeted cancer therapies.
The company is also developing molecular profiling assays based on next generation sequencing (NGS). The assays will be used to test tissue specimens and body liquids.
Neoliquid biopsy test will be used to analyze genomic profiles of solid tumors from a simple blood sample.
Siemens said Neo New Oncology’s third-generation hybrid capture technology helps to analyze circulating tumor DNA with high accuracy.
The acquisition helps Siemens to enter into NGS-based genomic testing market, in addition to expanding its capabilities in precision medicine and companion diagnostics markets.
In addition, the deal allows Siemens to provide enhanced molecular services to physicians, hospitals and laboratories.
Siemens Healthineers molecular services head Sebastian Kronmueller said: "The acquisition of Neo New Oncology will allow us to offer high-quality oncology tests and related services for physicians, hospitals and laboratories."
Neo New Oncology CEO Andreas Jenne said: "The global presence will help us to grow and expand into new markets. We want to develop new, integrated solutions for cancer diagnostics with Siemens Healthineers, expand our portfolio of tests and offer services that will help physicians to select the right therapy for their patients."
Image: Siemens’ new corporate headquarters in Munich. Photo: courtesy of Siemens AG.