Maverix Medical acquires Cirrus Bio, forms new division Maverix Dx
01 Apr 2024
AcquisitionExecutive Change
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 InstituteCancer 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.”
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