Theranos Gets Extension For Reporting Ways It Will Fix Deficiencies At Lab
The blood testing startup has hired a new director, and the company has asked for time for him to review its plans to fix the flaws at the Palo Alto lab. In other marketplace news, Cofactor Genomics has acquired Narus Biotechnologies.
Theranos Gets Additional Week To Respond To U.S. Inspection
Blood-testing startup Theranos Inc. said it has been given a one-week extension by U.S. regulators to say how it will fix flaws at a California laboratory. Deficiencies at Theranos’s lab in Newark, California, “pose immediate jeopardy to patient health and safety,” officials at the U.S. Centers for Medicare and Medicaid Services said in a Jan. 25 letter. At the time, the agency demanded immediate changes at the lab and threatened the closely held company with sanctions. Theranos, which was given 10 days to respond, has hired a new lab director, Kingshuk Das. (Chen, 2/5)
The San Francisco Business Times:
Cofactor Genomics Acquires S.F. Biotech Narus
San Francisco-based Narus Biotechnologies has been acquired by Cofactor Genomics, a biotech company operating out of the Cortex innovation district in St. Louis, the companies announced Thursday. Cofactor, which provides DNA and RNA sequencing services, acquired Narus Biotechnologies, a biomarker development company focused on creating RNA diagnostic tests for neurological diseases that can help inform therapeutic selection for patients with multiple sclerosis, Alzheimer’s and Parkinson’s. (Feldt, 2/5)