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
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”, “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.”
Jeffrey Miller, CEO and founder of Invivoscribe
“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,”
Yoshimitsu Takagi, Vice President and Executive Officer, and General Manager, Analytical & Medical Solution Business Group of Hitachi High-Tech.
