Genomic Health
From Wikipedia, the free encyclopedia
Genomic Health, Inc. is 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.
 | |
| Company type | Subsidiary |
|---|---|
| Nasdaq: GHDX | |
| Industry | Genomics |
| Founded | August 2000, in Redwood City, California, U.S. |
| Founder | Randy Scott |
| Successor | Exact Sciences |
| Headquarters | Redwood City, California, U.S. |
Key people | |
| Products | Oncotype DX |
Number of employees | 863 (2017) |
| Website | www |
| Footnotes / references [1][2][3] | |
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]