CareDx Announces Strategic Minority Investment in Miromatrix

Rhea-AI Summary

CareDx, Inc. (Nasdaq: CDNA) announced a minority investment in Miromatrix, a biotech firm focused on developing bioengineered organs to reduce the transplant waiting list. This collaboration will leverage CareDx's technology for research and development initiatives. The significant shortage of available organs impacts thousands annually, with over 40,000 kidney patients dying each year due to this crisis. Miromatrix's patented technology aims to create fully implantable organs like livers and kidneys, aligning with CareDx's mission to enhance transplant patient care.

Positive

• CareDx's investment in Miromatrix enhances its strategic position in the organ transplant sector.
• Collaboration might accelerate advancements in bioengineered organ development, addressing critical shortages.

Negative

• Risks associated with the expected benefits from the investment and collaboration may not materialize.
• Concerns regarding Miromatrix's intellectual property protection may impact future successes.

Participation in Series C and Research Partnership to Advance Development of Bioengineered Transplantable Organs

SOUTH SAN FRANCISCO, Calif., May 28, 2021 (GLOBE NEWSWIRE) -- CareDx, Inc. (Nasdaq: CDNA), a leading precision medicine company focused on the discovery, development, and commercialization of clinically differentiated, high-value healthcare solutions for transplant patients and caregivers, today announced it has closed a minority investment in Miromatrix, a biotechnology company working to eliminate the need for an organ transplant waiting list through the development of implantable engineered biological organs. CareDx and Miromatrix have also agreed to collaborate on certain research and development activities using CareDx technology.

Life-saving organ transplantation is severely constrained by the number of organs available for patients who need them. According to the Journal of the American Society of Nephrologists, more than 40,000 Americans die each year waiting for a kidney transplant due to the chronic shortage of kidneys.

Through their proprietary perfusion decellularization and recellularization technology, Miromatrix is developing fully implantable human organs including livers and kidneys. Miromatrix’s technology is protected by a series of issued patents and pending patent applications in major markets worldwide.

“Miromatrix’s ambitions to increase the availability of transplantable organs is perfectly aligned with our mission of caring for more transplant patients,” said Reg Seeto, President and CEO of CareDx. “CareDx’s dedication to improving outcomes for transplant patients has resulted in innovative solutions across the entire transplant patient journey — from leading pre-transplant HLA matching solutions to advancing post-transplant surveillance. Through this investment and collaboration, we are pleased to now use our expertise to help increase the supply of transplantable organs.”

About CareDx
CareDx, Inc., headquartered in South San Francisco, California, is a leading precision medicine solutions company focused on the discovery, development and commercialization of clinically differentiated, high-value healthcare solutions for transplant patients and caregivers. For more information, please visit: www.CareDx.com.

Forward Looking Statements
This press release includes forward-looking statements, including statements regarding the Company’s minority investment in, and collaboration with, Miromatrix and the potential benefits and results that may be achieved through the investment and collaboration. These forward-looking statements are based upon information that is currently available to CareDx and its current expectations, speak only as of the date hereof, and are subject to numerous risks and uncertainties, including risks that the CareDx does not realize the expected benefits of the investment and collaboration; risks related to Miromatrix’s intellectual property protection; general economic and market factors; and other risks discussed in CareDx’s filings with the SEC, including the Annual Report on Form 10-K for the fiscal year ended December 31, 2020 filed by CareDx with the SEC on February 24, 2021 and other reports that CareDx has filed with the SEC. Any of these may cause CareDx’s actual results, performance or achievements to differ materially and adversely from those anticipated or implied by CareDx’s forward-looking statements. CareDx expressly disclaims any obligation, except as required by law, or undertaking to update or revise any such forward-looking statements.

CONTACTS:

CareDx, Inc.
Sasha King
Chief Marketing Officer
415-287-2393
sking@caredx.com

Investor Relations
Greg Chodaczek
646-924-1769
investor@caredx.com

FAQ

What does CareDx's investment in Miromatrix mean for CDNA shareholders?

The investment positions CareDx in a growing sector of bioengineered organs, potentially enhancing long-term shareholder value.

How does Miromatrix's technology impact organ transplantation?

Miromatrix is developing implantable organs to help alleviate the chronic shortage of organs available for transplantation.

What are the potential risks associated with CareDx's collaboration with Miromatrix?

Risks include the possibility that CareDx may not achieve the anticipated benefits from the investment and concerns over Miromatrix's intellectual property.

When was CareDx's investment in Miromatrix announced?

The investment was announced on May 28, 2021.

What is the significance of the partnership between CareDx and Miromatrix?

This partnership aims to leverage CareDx's technology to advance the development of transplantable organs, addressing critical shortages in the market.