MaveriX Oncology, Inc.

Maverix will form a dedicated diagnostic division, dubbed Maverix Dx, to develop, invest in, acquire, and bring to market diagnostic tools for lung cancer, and will be led by David Mallery will serve as the CEO and Scott Morris as CSO Maverix Medical acquires Cirrus Bio. (Credit: Adam Radosavljevic from Pixabay) Maverix Medical, a diagnostic devices maker focused on lung cancer, has completed the acquisition of medical diagnostics developer Cirrus Bio for an undisclosed amount. In November last year, US-based investment management company KKR and health technology firm Hologic established Maverix Medical, to be managed by Ajax Health. Cirrus Bio is engaged in developing and marketing multi-omic solutions for the diagnosis and management of diseases where early detection plays a critical role in clinical outcomes. Its founders David Mallery and Scott Morris have previously established and operated the Molecular Profiling Institute, which was acquired by Caris Life Sciences. They also led Paradigm Diagnostics and Viomics, acquired by Exact Sciences, and the International Genomics Consortium, a non-profit supported by the National Cancer Institute. As part of the acquisition, Maverix will form a dedicated diagnostic division, dubbed Maverix Dx, to develop, invest in, acquire, and bring to market diagnostic tools for lung cancer. David Mallery will serve as the CEO and Scott Morris as the Chief Scientific Officer (CSO) of Maverix Dx Maverix Medical executive chairman Duke Rohlen said: “Lung cancer remains the largest cancer killer, by far. The only way to improve survival rates for this extremely aggressive disease is to catch it early and act decisively. “This acquisition gives Maverix unparalleled technology, talent, and expertise in early cancer detection, and will serve as the foundation for a broader diagnostic portfolio with the potential to transform lung cancer care.” Maverix’ Serpex Medical developed and secured FDA 510k approval for steerable technologies that can accurately target lung tissue for biopsy or therapy delivery. Serpex will continue to serve as the foundation for the medical device division of Maverix, dubbed Maverix Med Device, under the leadership of Serpex founder and CEO Sasha Schrode. Together, Maverix Dx and Maverix Med Device will equip clinicians with the full range of diagnostic and interventional tools required for effective lung cancer treatment. Maverix Medical said that with the support of its financial sponsors and advisors, KKR and Hologic, it will invest in both development- and commercial-stage lung cancer companies. Maverix Dx CEO David Mallery said: “As we evaluate the lung cancer market, we see tremendous unmet clinical need and a rich opportunity set for both internal development and acquisitions. “We are far from the only ones working on this tough clinical problem, and we look forward to partnering with other innovators to discover and validate new techniques for improving lung cancer care.”

New diagnostic division will acquire, invest in, and develop a portfolio of diagnostic solutions for the screening, diagnosis, and management of lung cancer. MENLO PARK, Calif., March 29, 2024 /PRNewswire/ -- Maverix Medical, a dedicated lung cancer platform established by Ajax Health, KKR, and Hologic, Inc., today announced the acquisition of Cirrus Bio for an undisclosed amount. Cirrus Bio develops and brings to market multiomic solutions for the diagnosis and management of diseases where early detection plays a critical role in clinical outcomes. The founders of Cirrus Bio, David Mallery (CEO) and Scott Morris (CSO), have previously founded and led the Molecular Profiling Institute (acquired by Caris Life Sciences), Paradigm Diagnostics (acquired by Exact Sciences), Viomics (acquired by Exact Sciences), and the International Genomics Consortium (non-profit supported by the National Cancer Institute). As part of the acquisition, Maverix also announced the formation of a dedicated diagnostic division called Maverix Dx that will develop, invest in, acquire, and bring to market a suite of diagnostic tools for lung cancer. David Mallery will serve as the Chief Executive Officer of Maverix Dx and Scott Morris as the Chief Scientific Officer. In these roles, they will continue to develop new diagnostic technologies, while also driving platform M&A and strategic investments. "Lung cancer remains the largest cancer killer, by far. The only way to improve survival rates for this extremely aggressive disease is to catch it early and act decisively. This acquisition gives Maverix unparalleled technology, talent, and expertise in early cancer detection, and will serve as the foundation for a broader diagnostic portfolio with the potential to transform lung cancer care," said Duke Rohlen, Executive Chairman, Maverix Medical. Cirrus represents the second major new product platform for Maverix. The first—Serpex Medical, announced at closing—has developed and obtained 510k clearance for steerable technologies that can precisely target lung tissue for biopsy or therapy delivery. Serpex will continue to serve as the foundation for the medical device division of Maverix, called Maverix Med Device, led by Serpex founder and CEO Sasha Schrode. Together, Maverix Dx and Maverix Med Device will equip clinicians with the full range of diagnostic and interventional tools required for effective lung cancer treatment. "As we evaluate the lung cancer market, we see tremendous unmet clinical need and a rich opportunity set for both internal development and acquisitions. We are far from the only ones working on this tough clinical problem, and we look forward to partnering with other innovators to discover and validate new techniques for improving lung cancer care," said David Mallery, CEO, Maverix Dx. With the support of its financial sponsors and advisors, KKR and Hologic, Maverix Medical continues to invest in both development- and commercial-stage lung cancer companies and welcomes opportunities to collaborate with innovators, entrepreneurs, clinicians, and industry leaders. Contact: Diagnostic Inquiries – David Mallery, CEO, Maverix DX - [email protected] Medical Device Inquiries – Sasha Schrode, CEO, Maverix Med Device - [email protected] SOURCE Maverix Medical