Castle Biosciences Signs Definitive Agreement to Acquire Myriad myPath® Laboratory
With the acquisition, Castle expects to make available the most comprehensive molecular testing offering for difficult-to-diagnose melanocytic lesions.
The Company to host a conference call today at
myPath Melanoma is a clinically validated GEP test designed to be used as an adjunct to histopathology when the distinction between a benign nevus and a malignant melanoma cannot be made confidently by histopathology alone. Castle currently offers DecisionDx® DiffDx™-Melanoma, a 35-GEP test designed to characterize difficult-to-diagnose melanocytic lesions. myPath Melanoma is a distinct test, which Castle anticipates will complement its current offerings and enable Castle to provide the most comprehensive molecular testing solution for difficult-to-diagnose melanocytic lesions.
“With the acquisition of Myriad myPath Laboratory, Castle strategically expands its suite of genomic tests for skin cancer and expects to offer the most comprehensive testing solution for difficult-to-diagnose melanocytic lesions,” said
DecisionDx DiffDx-Melanoma and myPath Melanoma are both commercially available and will remain available through Castle and Myriad, respectively, throughout the transaction period. As the successor owner, upon closing, Castle will be the sole provider of myPath Melanoma.
National Comprehensive Cancer Network® (NCCN) Guidelines Version 2.2021 state that ancillary tests, including GEP tests such as myPath Melanoma and DecisionDx DiffDx-Melanoma, may facilitate interpretation of cases (melanocytic neoplasms of uncertain biologic potential) that are diagnostically uncertain or controversial by histopathology. Additionally, myPath Melanoma is currently covered under a MolDX Local Coverage Determination policy through
Company management will host a conference call and webcast to discuss this transaction at
Conference Call and Webcast Details
A live webcast of the conference call can be accessed here: https://edge.media-server.com/mmc/p/3h42dqxx or via the webcast link on the Investor Relations page of the Company’s website (https://ir.castlebiosciences.com/investors). Please access the webcast at least 10 minutes before the conference call start time. An archive of the webcast will be available on the Company’s website until
To access the live conference call via phone, please dial 877-282-2581 from
There will be a brief Question & Answer session following management commentary.
About DecisionDx DiffDx-Melanoma
DecisionDx® DiffDx™-Melanoma is designed to aid dermatopathologists in characterizing difficult-to-diagnose melanocytic lesions. Of the approximately 2 million suspicious pigmented lesions biopsied annually in the
More information about the test and disease can be found at www.CastleTestInfo.com.
DecisionDx-Melanoma, DecisionDx-CMSeq, DecisionDx-SCC, DecisionDx DiffDx-Melanoma, DecisionDx-UM, DecisionDx-PRAME and DecisionDx-UMSeq are trademarks of
The information in this press release contains forward-looking statements and information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are subject to the “safe harbor” created by those sections. These forward-looking statements include, but are not limited to, statements concerning the expectation that Castle will complete the acquisition of Myriad myPath Laboratory and the expected timing of the consummation of the transaction, Castle’s ability to integrate the myPath Melanoma test into its commercial offerings and deliver the most comprehensive molecular testing offering for difficult-to-diagnose melanocytic lesions, the ability of the myPath Melanoma and DecisionDx DiffDx-Melanoma tests to compliment and add incremental value to each other, provide more patients with actionable results more of the time and enable a more confident diagnosis and clearer treatment path. The words “anticipates,” “believes,” “estimates,” “expects,” “intends,” “may,” “plans,” “projects,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. We may not actually achieve the plans, intentions, or expectations disclosed in our forward-looking statements and you should not place undue reliance on our forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements that we make. These forward-looking statements involve risks and uncertainties that could cause our actual results to differ materially from those in the forward-looking statements, including, without limitation, the conditions to closing may not be satisfied and the transaction may be delayed or not close at all, the effects of the COVID-19 pandemic on our business and our efforts to address its impact on our business, the myPath Melanoma and DecisionDx DiffDx-Melanoma tests’ ability to provide the aforementioned benefits to each other, Castle and patients and the risks set forth in our Annual Report on Form 10-K for the year ended
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