Georgia Based Ascenda BioSciences LLC Acquires Provista Diagnostics, Inc, Developer of Liquid Biopsy-Based Diagnostic Tests to Detect Early-Stage Cancers
Ascenda BioSciences has acquired Provista Diagnostics, developer of Videssa® Breast, the first blood test of its kind to detect breast cancer in women with abnormal imaging findings.
ALPHARETTA, Ga., June 18, 2019 /PRNewswire-PRWeb/ -- With financial sponsorship by private equity firm The Strategic Group, P.R., LLC, Ascenda BioSciences LLC (a Strategic Group portfolio company) has acquired the revolutionary women's early-stage cancer diagnostic firm Provista Diagnostics, Inc.
Videssa Breast, Provista's lead diagnostic, is the first blood test of its kind for the accurate and early detection of breast cancer. In women who present with abnormal or difficult-to-interpret imaging findings, confidently choosing immediate follow-up versus a "watch and wait" approach can be challenging. With a simple blood draw, Videssa Breast can inform whether further diagnostic procedures may be warranted or provide further assurance for those patients that likely do not have breast cancer. Among other things, Videssa Breast improves diagnostic accuracy and provides greater confidence and clarity; significantly reduces total biopsies; and accurately detects breast cancer irrespective of breast density. By providing real-time disease status using a protein-based blood test, Provista Diagnostics addresses the known limitations of breast cancer detection, and provides additional, insightful information not detectable through traditional imaging technologies.
Provista Diagnostics' objective is to simplify—and improve the accuracy of—early cancer detection to improve women's health. As a leading diagnostics company, Provista Diagnostics creates, produces, and markets innovative solutions directed at unmet clinical needs. The products and services offered by Provista Diagnostics help diagnose cancer at an early stage and provide data for better clinical decisions thereby enhancing women's health and quality of life. In addition to a breast cancer test, Provista Diagnostics has developed a pipeline of blood-based diagnostic tests to address the greatest unmet needs and clinical challenges in women's cancers, including ovarian, endometrial, and HPV-associated cancers.
Provista Diagnostics is now a major subsidiary of Ascenda BioSciences, an Alpharetta, Georgia based clinical testing and diagnostics company. Ascenda BioSciences is rising to the challenge of modern medicine by offering molecular-based technologies to detect multiple bacteria, parasites, viruses, and health risk markers to differentiate between infection and inflammation, address antibiotic resistance and diagnose autoimmune and metabolic disorders with high sensitivity and specificity. By offering these tests, Ascenda BioSciences is at the forefront of revolutionizing gut microbiome to accurately diagnose gut and other metabolic disorders and recommending effective treatments to improve patient outcomes.
Uriel Kusiatin, MBA and Rao V. Mulpuri PhD, MBA, both from Provista Diagnostics, are joining Ascenda BioSciences, as CEO and COO respectfully. Kusiatin brings over twenty-five years of leadership and experience and was instrumental in developing and executing Provista Diagnostics' commercial and financing strategies. "We look forward to bringing our extensive knowledge, experience, and products into the Ascenda BioSciences fold, and being part of Ascenda BioSciences' cutting-edge advanced suite of proprietary medical, genetic, and diagnostic testing. Our goal is to increase our unique testing options beyond GI health and women's health by further developing partnerships so clinicians will turn to us first for highly accurate testing of blood, fecal, or biopsy samples using the most advanced technologies available," said Kusiatin. Mulpuri brings over twenty-five years of relevant experience, and among other things, led Provista Diagnostics' product and clinical development efforts as well as lab operations.
"Adding Provista Diagnostics and its one-of-a-kind breast cancer blood test is consistent with our mission since our initial investment in Ascenda BioSciences," said Robb Rill, Managing Director of The Strategic Group, P.R. "By creating an environment where we can scale the company, expand its footprint, and offer diagnostic and other medical testing services," Rill strongly believes that Provista Diagnostics "can truly make a significant and impactful difference for medical providers and their patients."
For additional information, please contact Uriel Kusiatin, CEO at 678-580-0613 or visit https://ascendabio.com/ or https://www.provistadx.com/.
SOURCE Ascenda BioSciences LLC
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