CareDx Strengthens Bioinformatics Capabilities with Acquisition of BFS Molecular

Rhea-AI Summary

CareDx, a precision medicine company focused on transplant solutions, has acquired BFS Molecular, a software firm specializing in NGS-based patient testing. This acquisition strengthens CareDx's portfolio with advanced software and algorithm development capabilities for transplant surveillance products like AlloSeq cfDNA and AlloSeq HCT. Tim Hague, the former CEO of BFS Molecular, will join CareDx as Vice President of Global Lab Products Software, enhancing their bioinformatics expertise and presence in Europe. CareDx aims to improve the transplant patient journey through this strategic acquisition.

Positive

• Acquisition of BFS Molecular enhances CareDx's portfolio with advanced NGS software solutions.
• Tim Hague joins CareDx, bringing significant expertise in NGS and bioinformatics.
• Strengthens CareDx's market presence in Europe and improves transplant patient surveillance.

Negative

• None.

SOUTH SAN FRANCISCO, Calif., March 17, 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 acquired BFS Molecular S.R.L., a software company focused on NGS-based patient testing solutions.

BFS Molecular brings extensive software and algorithm development capabilities for NGS transplant surveillance products that will add value to CareDx’s portfolio, including AlloSeq cfDNA and AlloSeq HCT. In addition to the acquisition of BFS Molecular, Tim Hague, CEO and Co-Founder of BFS Molecular, will join CareDx as Vice President of Global Lab Products Software. Mr. Hague was previously CEO of Omixon, a highly regarded innovator of NGS HLA typing solutions.

“We are committed to improving patient lives across the transplant patient journey and world-class software engineering is critical to our success. With BFS Molecular now joining CareDx, we are adding to our bioinformatics and transplant surveillance software expertise and solidifying our presence in Europe,” said Reg Seeto, CEO, CareDx.

“CareDx is a great fit for BFS Molecular,” said Mr. Hague. “It’s a thrill to be joining a team so dedicated to global innovation in transplantation.”

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. CareDx offers testing services, products, and digital healthcare solutions along the pre- and post-transplant patient journey and is the leading provider of genomics-based information for transplant patients. For more information, please visit: www.CareDx.com.

Forward Looking Statements

This press release includes forward-looking statements, including statements regarding the Company’s acquisition of BFS Molecular and the potential benefits and results that may be achieved through the acquisition. 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 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
347-610-7010
investor@caredx.com

FAQ

What does CareDx's acquisition of BFS Molecular mean for CDNA shareholders?

The acquisition is expected to enhance CareDx's product offerings and market presence, which could potentially lead to growth in shareholder value.

When was the acquisition of BFS Molecular announced?

The acquisition was announced on March 17, 2021.

Who is Tim Hague in relation to CareDx?

Tim Hague is the CEO and Co-Founder of BFS Molecular, who will now serve as Vice President of Global Lab Products Software at CareDx.

What products will benefit from the acquisition of BFS Molecular?

CareDx's AlloSeq cfDNA and AlloSeq HCT transplant surveillance products will benefit from BFS Molecular's advanced software capabilities.

How does this acquisition impact CareDx's strategy in Europe?

The acquisition solidifies CareDx's presence in Europe and enhances its bioinformatics and transplant surveillance capabilities.