ChipDX Hires Investment Bank to Explore Strategic Opportunities for Commercialization of Cancer Tests

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Company receives multiple expressions of interest in proprietary multi-gene cancer tests and online analysis platform.

ChipDX LLC, a New York-based molecular diagnostics and personalized medicine research company, has appointed AmeriTech Advisors healthcare investment banking team to respond to recent interest from healthcare industry members in partnering with the company as well as licensing rights to recently developed multi-gene cancer tests.

The company has developed multi-gene tests for performing genomic analysis of patients with breast cancer (BreastGeneDX [1]) or colon cancer (ColonGeneDX [2]), with additional tests in active development. All tests are available for research use only (RUO) through its unique, online gene expression analysis platform: Regulatory requirements and partners for taking the tests to market are being investigated.

Strategic alternatives the Company may pursue could include partnering or other collaboration agreements, a merger, an equity or debt financing, sale of the Company or other strategic transactions.

The Company does not intend to disclose developments with respect to this process until the evaluation of strategic alternatives has been completed and the board of directors has approved a specific transaction.

About ChipDX

ChipDX develops and delivers novel multi-gene diagnostic and prognostic assays for oncology from public and proprietary datasets. The aim of the company is to increase access to advanced, well-validated, predictive and prognostic assays through collaborations with existing diagnostic service providers and also through its modular, online delivery system: Other gene-based tests currently in development include prognostic and predictive assays for lung cancer (LungGeneDX) and a diagnostic tool for characterizing metastatic or poorly differentiated tumors (CancerGeneDX).

About AmeriTech Advisors

American MedTech is an investment bank dedicated to providing capital raising and strategic advisory services to emerging growth companies in the technology and medtech sectors with market capitalizations of between $25 million and $500 million. Their bankers have 20 years’ experience at major global investment banks and as senior managers at public companies with experience executing successful transactions. Their goal is to build mutually beneficial relationships between our emerging growth company clients, technology and medtech/pharma partners, and their network of investors.

[1] "Design and Multiseries Validation of a Web-Based Gene Expression Assay for Predicting Breast Recurrence and Patient Survival." The Journal of Molecular Diagnostics. May 2011: 297-304.
[2] "An Online Gene Expression Assay for Determining Adjuvant Therapy Eligibility In Patients with Stage 2 or 3 Colon Cancer." British Journal of Cancer. Nov 2010.

Note: ChipDX, BreastGeneDX, CancerGeneDX, ColonGeneDX and LungGeneDX are pending trademarks or registered trademarks of ChipDX LLC. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, any securities of the Company, prior to the registration or qualification for exemption of any securities under federal and state securities laws.

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