Agendia Inc. is making headway in oncology diagnostics.
The Irvine-based genomic diagnostics test provider recently announced that the National Comprehensive Cancer Network updated its clinical practice guidelines to include Agendia’s MammaPrint 70-gene Breast Cancer Risk-of-Recurrence Test, which helps determine the likelihood breast cancer will recur in patients with estrogen receptor-positive breast cancer.
It’s the second notable inclusion of its type for the genomic test. Last year, the American Society of Clinical Oncology Breast Cancer Biomarker Guidelines approved the use of MammaPrint.
“The NCCN and ASCO are the two most prestigious and respected sources of guidelines for the treatment of cancer in the U.S. and internationally,” said Agendia Chief Medical Officer William Audeh.
Audeh is a medical oncologist specializing in breast cancer, with nearly 30 years of experience as a clinician and clinical researcher at the Cedars-Sinai Cancer Center in Los Angeles. He was the medical director of the cancer center from 2009 to 2012. He joined the company in 2016.
MammaPrint analyzes the 70 most important genes associated with breast cancer recurrence to classify each patient into low risk or high risk of developing metastases within the first 10 years after diagnosis.
The company said in a statement that the Food and Drug Administration-cleared test “is the only test of its kind with Level 1 evidence for both lymph-node negative and lymph-node positive disease.” It’s also been approved for use in Europe.
“As an oncologist, I have been a strong proponent of harnessing genomic information to help understand how a patient’s cancer is likely to behave and to personalize their treatment accordingly … in our case, based on the gene expression of their individual tumor,” Audeh said.
“It is gratifying to see this established as the standard of care.”
Privately held Agendia announced a $35 million investment in June from funds managed by New York-based Athyrium Capital Management LP.
Asia Expansion
Irvine-based ChromaDex Corp. (Nasdaq: CDXC) continues to ramp up expansion efforts in Asia, naming Yan Chu managing director of its Asia Pacific division. She’ll be based in Singapore.
The supplement maker is best known for flagship ingredient nicotinamide riboside—commercially available as TruNiagen, a vitamin B3 supplement said to boost overall energy and have antiaging benefits.
Chu joined the company from New Zealand-based health products firm Comvita, where she served as regional general manager overseeing the Hong Kong, Japan and Korea markets.
Previously, she led sales and marketing functions in the Asia Pacific region at Crocs, Adidas and The Body Shop.
Chief Executive Rob Fried said Chu’s experience “will be important to the expansion of Tru Niagen in the Asia Pacific region.”
The company’s Asia expansion rides on Hong Kong billionaire Li Ka-Shing’s $25 million investment last year via one of his investment vehicles, Horizon Ventures.
Li, through his CK Hutchison Holdings Ltd., owns A.S. Watson—which Forbes says is the biggest health and beauty retailer in Asia and Europe.
ChromaDex is valued at about $200 million.
Mental Health
Children’s Hospital of Orange County recently announced a $500,000 donation from the J. Willard and Alice S. Marriott Foundation in support of its new mental health inpatient center. The hospital named the center’s dining room after the Marriott family.
The donation embodies the family’s history and core values, according to Chris Harrison, the great-grandson of Marriott International’s founders and former general manager of the Marriott Irvine Spectrum Hotel.
“Pediatric healthcare and mental health hold special places in my heart, and it’s truly a blessing to support CHOC’s innovative efforts,” he said in a statement.
Harrison said he has a personal connection to the cause, including having family members who’ve struggled with mental illnesses. He serves on CHOC Children’s Foundation’s board of directors.
He was recently tapped as vice president of loyalty, strategy and innovation at Marriott International in Bethesda, Md.
The new CHOC facility includes 18 beds and a 3,600-square-foot outdoor play area. It’s the only mental health facility in Orange County offering specialty programming for children 12 and younger. The facility was featured in the Oct. 15 edition of the Business Journal.
Bits & Pieces
San Clemente-based Glaukos Corp. (NYSE: GKOS) announced the launch of its iStent Inject last month at the American Academy of Ophthalmology’s Ophthalmology Innovation Summit in Chicago. The device maker makes minimally invasive glaucoma surgical devices, or implantable stents, designed to treat glaucoma patients by draining excessive eye fluid to alleviate intraocular pressure. It received Food and Drug Administration clearance for the device in June. It has a $2.1 billion market cap … Endologix Inc. (Nasdaq: ELGX) plans to refinance its debt. The Irvine-based stent graft maker, which has a $134.6 million market cap, recently commenced a registered underwritten public offering of $20 million of its shares of common stock. Proceeds will be used to redeem all of its $18.3 million 2.25% convertible senior notes due this year. BTIG LLC is underwriter.
