Maverix Medical, a dedicated lung cancer platform established by Ajax Health, KKR and Hologic, 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.
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.
Cirrus Bio CEO David Mallery will serve as the CEO of Maverix Dx and Cirrus Bio CSO Scott Morris as the Maverix's CSO. In these roles, they will continue to develop new diagnostic technologies, while also driving platform M&A and strategic investments. Mallery and Morris founded Cirrus Bio. The pair 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).
"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, 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.
