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Ambry Genetics

ambrygen.com

Stage

Acquired | Acquired

Valuation

$0000 

About Ambry Genetics

Ambry Genetics offers a comprehensive suite of genetic testing solutions for inherited and non-inherited diseases as well as for numerous clinical specialties, including oncology, cardiology, pulmonology, neurology, and general genetics. The company is recognized as a leader in diagnostic solutions for hereditary conditions in the United States, by having performed more than one million genetic tests and identified more than 45,000 mutations in at least 500 different genes. Ambry is known as a pioneer and thought leader in genetic testing being the first laboratory in the world to offer such tests as hereditary cancer panels and clinical exome sequencing.

Headquarters Location

15 Argonaut

Aliso Viejo, California, 92656,

United States

949-900-5500

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Expert Collections containing Ambry Genetics

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Ambry Genetics is included in 1 Expert Collection, including Omics.

O

Omics

1,267 items

Companies involved in the capture, sequencing, and/or analysis of genomic, transcriptomic, proteomic, and/or metabolomic data

Ambry Genetics Patents

Ambry Genetics has filed 4 patents.

The 3 most popular patent topics include:

  • DNA
  • Genetics
  • Molecular biology
patents chart

Application Date

Grant Date

Title

Related Topics

Status

11/19/2002

6/22/2010

Cystic fibrosis, Genetics, Molecular biology, Biotechnology, Mutation

Grant

Application Date

11/19/2002

Grant Date

6/22/2010

Title

Related Topics

Cystic fibrosis, Genetics, Molecular biology, Biotechnology, Mutation

Status

Grant

Latest Ambry Genetics News

Learning From Data Breach Cases To Reduce Legal Risk

Jan 4, 2023

To embed, copy and paste the code into your website or blog: <iframe frameborder="1" height="620" scrolling="auto" src="//www.jdsupra.com/post/contentViewerEmbed.aspx?fid=28ed674d-bd89-4ce1-876c-64d9c388e844" style="border: 2px solid #ccc; overflow-x:hidden !important; overflow:hidden;" width="100%"></iframe> The average cost of a data breach is on the rise. According to the 2022 ForgeRock Consumer Identity Breach Report, the average cost in 2021 of recovering from a data breach in the U.S. is $9.5 million — an increase of 16% from the previous year. Lawsuits and regulatory fines are a significant factor contributing to the growing cost. This year, several notable class action settlements have been announced, including T-Mobile for over $350 million, the U.S. Office of Personnel Management for $63 million and the Ambry Genetics Corp. for over $12.25 million. This article looks at the alleged security failures in recent data breach litigations and proposes steps companies may consider to help reduce the legal risk of a data breach. Recent Examples In 2021, T-Mobile suffered a data breach that compromised personally identifiable information, or PII, for more than 54 million current, former or prospective customers. According to the complaint, John Erin Binns accessed the data through a misconfigured gateway GPRS support node. Binns was then able to gain access to the production servers, which included a cache of stored credentials that allowed him to access more than 100 servers. Binns was able to use the stolen credentials to break into T-Mobile’s internal network. According to the complaint, T-Mobile failed to fully comply with industry-standard cybersecurity practices, including proper firewall configuration, network segmentation, secure credential storage, rate limiting, user-activity monitoring, data-loss prevention, and intrusion detection and prevention. After learning about the breach, T-Mobile publicly announced the data breach and sent notices via brief text messages. Allegedly, T-Mobile’s text messages explicitly told some customers that their Social Security number had not been comprised. But, by contrast, T-Mobile’s messages failed to inform customers whose Social Security number had been compromised of this fact. As part of settlement of the class action, T-Mobile agreed to pay $350 million to customers and to boost its data security spending by $150 million over the next two years. T-Mobile also reached a $2.5 million multistate settlement with 40 attorneys general. In 2013 through 2014, a cyberattack on the Office of Personnel Management resulted in data breaches affecting more than 21 million people, which is reported as among the largest thefts of personal data from the U.S. government in history. The Office of Personnel Management allegedly failed to comply with various Federal Information Security Modernization Act requirements, to adequately patch and update software systems, to establish a centralized management structure for information security, to encrypt data at rest and in transit, and to investigate outbound network traffic that did not conform to the domain name system protocol. The Office of Personnel Management agreed to pay a $63 million settlement with current, former and prospective government workers affected by the breach. In January 2020, the systems of Ambry Genetics, a state-of-the-art genetic testing laboratory, were hacked, which exposed PII and protected health information of its patients. According to the complaint, Ambry Genetics failed to take standard and reasonably available steps to prevent the data breach, including failing to encrypt information and properly train employees, failing to monitor and timely detect the data breach, and failing to provide patients with prompt and accurate notice of the data breach. Ambry Genetics agreed to settle the class action litigation for $12.25 million plus three years of free credit monitoring and identity theft insurance services to the proposed class. Settlement participants can also submit a claim for up to $10,000 in reimbursement for out-of-pocket costs traceable to the data security breach and submit a claim for up to 10 hours of documented time dealing with breach issues at $30 per hour. These key data breach litigations highlight the risks of insufficient security measures and insufficient notice to affected customers in the event of a breach. To help reduce the legal risk, we suggest the following. Limit the scope of data collection and retention to only what is necessary. Companies should analyze business practices to determine what PII is collected, the purpose of the collected PII and how long that PII needs to be retained. The risk and liability of a data breach can be limited by restricting collected PII to only what is necessary and discarding that data once it is no longer necessary. Document the collected data to ensure it is periodically reevaluated and discarded at the appropriate time. Implement reasonable industry-standard security measures. Reasonable, basic security measures generally stem from industry standards and practices, regulations and guidance, and federal and state laws. As some examples, recent data breach litigations highlight the following as reasonable, expected security measures: Encrypting sensitive data;

Ambry Genetics Frequently Asked Questions (FAQ)

  • Where is Ambry Genetics's headquarters?

    Ambry Genetics's headquarters is located at 15 Argonaut, Aliso Viejo.

  • What is Ambry Genetics's latest funding round?

    Ambry Genetics's latest funding round is Acquired.

  • Who are the investors of Ambry Genetics?

    Investors of Ambry Genetics include Konica Minolta and Innovation Network Corporation of Japan.

  • Who are Ambry Genetics's competitors?

    Competitors of Ambry Genetics include LS CancerDiag and 2 more.

Compare Ambry Genetics to Competitors

Quest Diagnostics Logo
Quest Diagnostics

Quest Diagnostics offers medical diagnostic testing and services throughout the United States. The company was founded in 1967 and is based in Secaucus, New Jersey.

LS CancerDiag Logo
LS CancerDiag

LS CancerDiag is committed to reducing cancer mortality rates with a low-cost, simple diagnostic method that detects an inherited cancer-causing condition prior to cancer. The company's flagship product, DiagMMR assay is an easy functional test that can be used for diagnosis of MMR deficiency i.e. Lynch syndrome (previously known as Hereditary Non­Polyposis Colorectal Cancer; HNPCC).

Digistain Logo
Digistain

Digistain applies machine learning algorithms to facilitate the provision of personalized risk reports to breast cancer patients and their physicians, helping reduce the timing and cost of treatment decisions, such as the need for chemotherapy. The platform technology uses infrared light to detect chemical changes occurring in tumor samples which can accompany the progression of the breast cancer disease. The company was founded in 2020 and is based in London, England.

A
Auspex

Auspex provides artificial intelligence-based advanced cancer diagnostics services intended to improve the quality of cancer care. The company's machine learning algorithm analyzes the genomic information of patients' tumor sample and accurately assess the risk of recurrence and drug efficacy, enabling the oncologists and patients to make the optimal data-driven decisions and personalize the treatment plan.

Genomind Logo
Genomind

Genomind is a personalized medicine company committed to the discovery of the underlying causes of neuropsychiatric disorders and supporting the development of personalized medicine that improves patients' lives. The company offers a genetic test designed to help clinicians optimize treatment decisions for their patients with mental illness.

Caris Logo
Caris

Caris provides artificial intelligence integrated molecular science technology that assesses deoxyribonucleic acid, Ribonucleic acid, and proteins to reveal a molecular blueprint that allows physicians and cancer patients to make personalized treatment decisions. It also researches and develops molecular profiling of blood and tissues. The company was founded in 2008 and is based in Irving, Texas.

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