NeoGenomics spends $125M to expand ops; Cara hires Celgene exec as CMO
→ Cancer-focused genetic test maker NeoGenomics $NEO said it would acquire to acquire Genoptix, an oncology laboratory that specializes in hematology and solid tumor testing for $125 million in cash and 1 million shares of NeoGenomics common stock. With the buy, NeoGenomics is set to expand its coverage of oncology practices and enhance its customer reach.
→ Biopharmaceutical company Cara Therapeutics $CARA, which is developing treatments for itchy skin, has hired Joana Goncalves as chief medical officer, to replace Joseph Stauffer who is transitioning into a consulting role. Goncalves, who most recently served as VP of medical affairs for dermatology and neurology at Celgene $CELG and worked on the biotech’s psoriasis drug Otezla, is tasked with executing the late-stage development of Cara’s Korsuva, an experimental drug for chronic kidney disease-associated pruritus.