Biotech Company Details Partnership on Cancer Test

Posted: Updated:
IVDiagnostics CEO Frank Szczepanski (photo courtesy of our partners at The Times of Northwest Indiana) IVDiagnostics CEO Frank Szczepanski (photo courtesy of our partners at The Times of Northwest Indiana)
GARY -

A Gary-based biotech company has announced a strategic partnership designed to accelerate the timeline toward FDA approval for its breast cancer testing technology. IVDiagnostics says the deal with Pennsylvania-based Prevail Partners Inc. will provide high-quality data from clinical studies at a more rapid pace.

IVDiagnostics is seeking Phase 1 FDA approval for Velox, a diagnostic cancer test which tags and monitors circulating tumor cells in a cancer patient's body. The company says the test will provide more accurate and frequent monitoring of a patient's progress during and after treatment.

The company says current imaging systems can only detect solid tumors of 1 millimeter or greater in size. The Velox test would be able to capture individual cancer cells within 2-30 microns in size. IV Diagnostics adds the test would ideally be used for patients with advanced stage cancers.

Prevail Partners, a subsidiary of Prevail InfoWorks Inc., will also invest an undisclosed amount money in IVDiagnostics in addition to assisting with the clinical studies.

"Everyone at Prevail Partners is excited to invest in the growth of IVDiagnostics as they develop the fastest and lowest cost CTC assay for the accurate in-vitro monitoring of pathogenic cell growth in patients undergoing cancer treatment or other blood borne diseases," said Mary Schaheen, president of Prevail Partners. "Furthermore, we have great confidence in our partnership and its ability to accelerate IVDiagnostics to a significant value inflection point through the completion of its planned pilot and pivotal trials."

IVDiagnostics Chief Executive Officer Frank Szczepanski says the partnership is "precisely what we need" to achieve FDA approval for Velox. You can learn more about the test by clicking here.

  • Perspectives

    • Big Data's Role in Site Selection

      In the world of site selection, companies assess the pros and cons of various factors to identify the location that best fits their current and future business needs. The list may seem endless: labor availability, utility needs and costs, real estate options, tax climate, incentives, quality-of-life considerations, even an area’s weather patterns and the likelihood of natural disasters. With the emergence of big data and the use of data analytics in all facets of business...

    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • CIB OKs $120M Convention Center Expansion, Two Hotels

      The Capital Improvement Board of Directors in Indianapolis, Visit Indy and Indianapolis-based Kite Realty Group Trust (NYSE: KRG) have unveiled $120 million plans to expand the Indiana Convention Center and add 1,400 rooms. The proposal, approved Friday morning by the CIB, involves two new hotels, including a 38-story property, and extending the convention facilities to the current Pan Am Plaza site. In January, the CIB released a request for interest for a convention center...

    • $25M Behavioral Hospital Coming to Central Indiana

      Danville-based Hendricks Regional Health is partnering with US HealthVest to develop a stand-alone behavioral center on the Hendricks campus in Plainfield. Known as the Indianapolis Behavioral Hospital, the facility will provide specialized inpatient and outpatient mental health care to patients of all ages.

    • 'Heartbreaking' End For Nashville House

      The 91-year-old Nashville House restaurant is closing. The Brown County family dining staple will serve its last meal at the end of the month. In a post on Facebook, Gina Sarah Rogers, daughter of late-owners Andy and Fran Rogers, said it is "the end of an era and very heartbreaking." The restaurant is known for its country-style fried chicken and ham meals. Business on the property dates back to the late-1860s when an inn opened. It was acquired in...

    • DowDuPont Paints Picture of Ag Spin-Out

      Michigan-based DowDuPont Inc. is providing a detailed look at the scope of its agriculture spin-out Corteva Agriscience. The independent company, which will have a significant presence in Indianapolis, will be made up of a combination of Indianapolis-based Dow AgroSciences, DuPont Pioneer and DuPont Crop Protection. The spin is expected to take place June 1. In a notice to shareholders included in a U.S. Securities and Exchange Commission filing, CEO James Collins said...

    • Ubanwa was the owner and manager of Northwest Ambulance Service from 2007 until earlier this year. (photo courtesy of Northwest Ambulance Service)

      Ambulance Service Owner Charged With Fraud

      The owner of Northwest Ambulance Service in Crown Point is facing a dozen healthcare fraud-related charges. U.S. Attorney Thomas Kirsch’s office says Basil Ubanwa allegedly received hundreds of thousands of dollars by submitting fraudulent claims to Medicare and Medicaid for ambulance services between 2011 and 2018.