Proove Biosciences Closes on the Acquisition of Pain Genetics Firm Algynomics
Irvine, CA (PRWEB) May 05, 2016
Proove Biosciences, Inc. today announced it has closed on a definitive agreement to acquire Algynomics, a research-stage pain diagnostics company. The Algynomics platform and its patient cohorts provide researchers with prospective data to identify individuals at increased risk for the development of chronic pain, which will allow targeted preventive efforts, enhance patient stratification in clinical trials to identify treatment responders, produce more sensitive inclusion/exclusion criteria for trial enrollment, and develop algorithms to tailor treatment for pain, enhancing outcomes and reducing adverse effects.
With this acquisition, Proove’s patented bioinformatics platform and award-winning research will be integrated into the world-renowned research from Algynomics to not only launch new clinical assays, but expand the use of Proove’s platform in the clinical research of therapeutics, devices, and novel procedures for the treatment of pain.
The acquisition of Algynomics, Inc. of Chapel Hill, North Carolina consolidate the leading researchers in the field of pain genetics and strengthens Proove’s position as the market and research leader in personalized pain medicine. Founded by leading pain genetics researchers Luda Diatchenko and William Maixner, Algynomics was founded in the same year as Proove in 2006. Algynomics developed the Translational Pain Genetics Consortium (TPGC) to improve the effectiveness and efficiency of applied and fundamental pain research through exclusive availability of cross-validated unique cohorts of pain patient supported by Algynomics experience, expertise and state of the art analytical tools.
As President of Algynomics, William Maixner, DDS, PhD a world-renowned pioneer in pain research, joins the Proove Medical Advisory Board. Dr. Maixner’s team recently joined Duke Anesthesiology to lead the Center for Translational Pain Medicine to further expand his excellent clinical and research program in pain medicine. Dr. Maixner joined Duke from the School of Dentistry at the University of North Carolina at Chapel Hill (UNC-CH), where he was the Mary Lily Kenan Flagler Bingham Distinguished University Professor.
As Chief Scientific Officer of Algynomics, Dr. Luda Diatchenko, MD, PhD, a world-renowned expert in the genetic basis of pain in humans and the development of personalized medicine approaches, remains on Proove’s Medical Advisory Board. Prior to becoming the Canada Excellence Research Chair in Human Pain Genetics, Dr. Diatchenko was a professor in the Center for Neurosensory Disorders at the University of North Carolina at Chapel Hill.
Dr. Maixner explains, “Much like Proove, Algynomics has been on a mission to relieve human pain conditions by using technologies that provide insight into the mechanisms of chronic pain and related clinical conditions. Algynomics’ novel approaches to the diagnosis and treatment of chronic pain conditions can now be brought to market through Proove.”
Dr. Diatchenko explains, “We approached Brian at Proove because of the trust we’ve built collaborating together. We share a vision for how personalized medicine can improve pain management and look forward to a tremendous future working together.”
Brian Meshkin, founder and CEO of Proove Biosciences states, “With the expertise of the Algynomics’ network of researchers across many universities now joining with Proove, we will be able to not only expand our research capabilities but bring more cutting-edge genetic tests to market as the continued leader in the field.”
Proove uses a patented bioinformatics platform that integrates genetic characteristics, electronic health records, and clinical assessments to feed complex algorithms to predict outcomes. With this innovative approach, Proove is able to merge genetic data with related health information to indicate how a patient objectively perceives pain, how they respond to opioid prescription drugs, and classify their risk for misuse of opioid pain medications. By acquiring Algynomics’ licenses to various cohorts of data, as well as their pipeline of assays, Proove plans to expand its research collaborations with manufacturers, governmental agencies, and universities.
Building on its industry leading practice-based evidence database of over 75,000 subjects, Proove will now have licenses to various cohorts of data including data from OPPERA 1 study funded by NIH with $19.1M in federal grants, OPPERA 2 study funded by NIH with $16M in federal grants, and other cohorts involving the University at Buffalo, New York; University of Florida, Gainesville; University of Maryland, Baltimore; and, University of North Carolina at Chapel Hill.
About Proove Biosciences
Our mission is to change the future of medicine. Proove represents the proof to improve healthcare decisions. We seek to realize a future when clinicians look back and wonder how they could have ever prescribed medications without knowing how a patient would respond. Physicians use Proove Biosciences testing to improve outcomes—both safety and efficacy of medical treatment. From a simple cheek swab collected in the office, Proove performs proprietary genetic tests in its CLIA-certified laboratory to identify patients at risk for misuse of prescription pain medications and evaluate their metabolism of medications. For more information, please visit http://www.proove.com or call toll free 855-PROOVE-BIO (855-776-6832).
For the original version on PRWeb visit: http://www.prweb.com/releases/2016/05/prweb13394357.htm