91 43rd St Ste 220
Pittsburgh, PA, 15201 United States
(412) 432-1500 †
Helomics knows that chemotherapy isn't "one size fits all." That's why the company developed and markets ChemoFx, a product that examines the response of a specific patient's tumor to various chemotherapies. Physicians can use the test to collect cells from a solid tumor, then Helomics performs tissue cultures and tries various chemotherapeutic and biologic agents to measure the best type, combination, and dose of chemotherapy to help combat the disease in individual patients. The company has been studying ChemoFx use with ovarian and breast tumors, among others. The company markets its products and services through a direct sales force. In late 2016, Helomics was acquired by a group of investors.
The company filed to go public in 2007, but it withdrew its IPO the following year in favor of a proposed merger with blank-check company Oracle Healthcare. However, the merger deal fell through, a casualty of deteriorating economic conditions. Late in the year, Precision Therapeutics raised more than $40 million from private investors, including existing investors
The cost of ChemoFx at $450 per drug or drug combination tested has economic appeal in addition to its potential scientific usefulness. A single round of chemotherapy can run into the tens of thousands of dollars, but the drugs approved for recurrent ovarian cancer generally only produce responses in 3% to 56% of patients. While still awaiting coverage approval from Medicare, private insurers have been willing to pay for ChemoFx on a case-by-case basis.
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