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HEALTHCARE | Medical Devices & Equipment / Imaging & Diagnostic Equipment
knowerror.com

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Founded Year

2012

Stage

Acquired | Acquired

Total Raised

$30M

About Strand Diagnostics

Strand Diagnostics, formerly Diagnostics ID, develops and markets the know error system, which utilizes bar coding, forensic chain-of-custody principles, and DNA testing (also known as DNA Specimen Provenance Assignment or DSPA testing) to complete the diagnostic testing cycle before initiating treatment. Available for a diverse range of tissue types, the know error system brings new levels of patient safety and accuracy to the diagnostic testing cycle for breast, prostate, and other cancers. Strand Diagnostics' forensic division, Strand Analytical Laboratories, supports law enforcement agencies with forensic DNA testing services.Having conducted prospective DSPA testing on tens of thousands of patients since 2009, Strand Diagnostics has documented that approximately 1% of cases receiving a positive cancer diagnosis are subject to undetected tissue transposition or contamination which could lead to a cancer diagnosis being assigned to the wrong patient. Including the complimentary patients who, therefore, may have received a false negative diagnosis, this means that up to 2% of all tissue biopsies could result in an incorrect diagnosis unless DSPA testing is incorporated into the diagnostic testing cycle.On February 11th, 2020, Strand Diagnostics was acquired by P4 Diagnostix, terms of the agreement were not disclosed.

Strand Diagnostics Headquarter Location

5770 Decatur Boulevard Suite A

Indianapolis, Indiana, 46241,

United States

888-924-6779

Latest Strand Diagnostics News

P4 Diagnostix® Announces Acquisition of Strand Diagnostics and know error®

Feb 11, 2020

Agreement Re-establishes DNA Confirmation Testing and Solidifies Critical Supply Chain Aspects for Large Urology Group Practices News provided by Share this article BELTSVILLE, Md., Feb. 11, 2020 /PRNewswire/ -- P4 Diagnostix, a network of nationally-recognized diagnostic testing laboratories, today announced the acquisition of the assets of Strand Diagnostics, creator of the know error® system. Strand's suite of DNA Specimen Provenance Testing (DSPT) is a leader in the field of DNA confirmation testing. In addition to their cutting-edge forensic DNA know error system, the company offers UroSeq® germline testing that can be used in accordance with NCCN guidelines for patients with advanced prostate cancer. P4 plans to reenergize the brand and immediately resume testing, supplies and logistics for all know error clients. "We recognize the value in DNA Provenance testing and the importance it plays in single specialty practices, especially large urology group practices and commercial laboratories that operate a histology laboratory," says Sathish Reddy, President and CEO of P4 Diagnostix. "We're also excited to be able to immediately offer the UroSeq assay to our existing client base as we expand our molecular testing capabilities at P4." Both the know error and UroSeq systems utilize DNA Specimen Provenance Assay (DSPA) testing, which is used to increase diagnostic efficiency and accuracy by matching DNA. This additional security measure verifies that the biopsy specimen belongs exclusively to the patient and has not been contaminated with outside DNA material. The acquisition will offer P4 Diagnostix clients an even wider range of offerings and services for all of their diagnostic testing needs. In addition to their laboratories in Maryland, New York, New Jersey, Virginia, Georgia, North Carolina and Arizona, P4 has a partnership with VitalAxis Inc., an innovative cloud-based healthcare IT product and services company that serves more than 5,000 urologists,10,000 physicians and 100,000 end users. About P4 Diagnostix®: P4 Diagnostix® is a network of several nationally recognized testing and diagnostic facilities integrated into one unified lab services organization, offering clients unparalleled access to connectivity, healthcare resources and consultative partnerships. P4 is made up of these industry-leading companies: Theranostix, Long Island Pathology, Platinum Pathology, Metamark Laboratories and P4 Clinical. P4's progressive integration of diagnostic testing and office workflow is rooted in partnership with VitalAxis, an industry-leader in the delivery of healthcare informatics.

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Expert Collections containing Strand Diagnostics

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

Strand Diagnostics is included in 1 Expert Collection, including Cancer.

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Cancer

3,604 items

Companies researching, developing, or offering products & services that aid in the screening, prevention, diagnosis, management, and treatment of cancer.

Strand Diagnostics Patents

Strand Diagnostics has filed 3 patents.

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Application Date

Grant Date

Title

Related Topics

Status

3/3/2015

12/5/2017

Neuropsychological tests, Classical ciphers, Molecular biology, Microscopy, Production and manufacturing

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Application Date

3/3/2015

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Grant Date

12/5/2017

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Title

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Related Topics

Neuropsychological tests, Classical ciphers, Molecular biology, Microscopy, Production and manufacturing

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Status

Grant

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