Genomic Health, Inc.
TypeSubsidiary
IndustryGenomics
FoundedAugust 2000 (2000-08) in Redwood City, California, U.S.
FounderRandy Scott
Defunct2019 (Acquired by Exact Sciences)
SuccessorExact Sciences Corporation
HeadquartersRedwood City, California, U.S.
Key people
  • Kimberly J. Popovits
  • (Chairman, President, & CEO)
  • G. Bradley Cole
  • (CFO)
ProductsOncotype D
Number of employees
863 (2017)
Websitewww.genomichealth.com
Footnotes / references
[1][2][3]

Genomic Health was a company focusing on genetic research specifically in cancer detection, based out of Redwood City, California.[2] The company was acquired by and merged with Exact Sciences Corporation in 2019.

History

Genomic Health, Inc. was founded in 2000 by Randy Scott, who had previously founded and been CEO at Incyte.[4] He formed the company after a close friend was diagnosed with cancer and had the idea for treatment based on the specific genome of their tumor.[5]

By 2003 Genomic Health had developed Oncotype DX, a genomic assay that quantified the likelihood of breast cancer recurrence.[6] This development took the company over three years and US$30,000,000 to complete and then had to convince skeptics at the time of the validity of genetic testing.[6]

In July 2005 Genomic Health filed for an initial public offering to sell up to US$75,000,000 in common stock. Investors at the time already included Versant Ventures and Kleiner Perkins Caufield & Byers.[7] On September 29, 2005 it was listed on the NASDAQ with the symbol GHDX with the initial share price of US$12 for 5016722 shares.[8]

Genomic Health also started a subsidiary in 2010, Invitae, with the goal of aggregating multiple genetics tests. Invitae was spun off in 2012.[9]

The company expanded with international headquarters in Geneva Switzerland and UK headquarters in London in 2011.[10]

In July 2019, Exact Sciences announced that it was purchasing Genomic Health to increase the variety of medical tests they offer.[11]

See also

References

  1. ↑ "US SEC: Form 10-K Genomic Health, Inc". U.S. Securities and Exchange Commission. Retrieved April 3, 2018.
  2. 1 2 "GENOMIC HEALTH, INC". OpenCorporates. 13 December 2016. Retrieved 10 January 2017.
  3. ↑ Chaykowsk, Kathleen (10 April 2012). "CEO's dedication is behind Genomic Health's cancer tests". Peninsula Press. Retrieved 10 January 2017.
  4. ↑ Susan McKinnon; Sydel Silverman (1 June 2005). Complexities: Beyond Nature and Nurture. University of Chicago Press. p. 239. ISBN 978-0-226-50024-9. Retrieved 10 January 2017.
  5. ↑ Cook, Kevin (7 October 2013). "Genomic Health Has Sickly Stock Chart". Forbes. Retrieved 10 January 2017.
  6. 1 2 Chess, Robert; Denend, Lyn; Zenios, Stefanos (2006). "Genomic Health: Launching a Paradigm Shift ... and an Innovative New Test". Stanford Graduate School of Business. Retrieved 10 January 2017.
  7. ↑ Simmers, Tim (19 July 2005). "Genomic Health files for an IPO". East Bay Times. Retrieved 10 January 2017.
  8. ↑ "GENOMIC HEALTH INC (GHDX) IPO". NASDAQ. Retrieved 10 January 2017.
  9. ↑ Lash, Alex (20 October 2015). "What's Your DNA Worth? The Scramble To Cash In On the Genome". exome. Retrieved 10 January 2017.
  10. ↑ "Company Timeline & Milestones". Genomic Health. Retrieved 10 January 2017.
  11. ↑ Flanagan, Cristin; Ahmed, Nabila (29 July 2019). "Exact Sciences to Buy Genomic Health for About $2.8 Billion". Bloomberg News. Retrieved 30 July 2019.
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