CardioDx Also Separately Raises $20 Million in New Financing to Support the Company's Commercial Growth and Operations
CardioDx, Inc., a molecular diagnostics company specializing in cardiovascular genomics, today announced a national specimen-draw agreement with Quest Diagnostics (NYSE: DGX), the world's leading provider of diagnostic information services, that will expand patient and clinician access to the Corus CAD lab-developed blood test for aiding the assessment of obstructive coronary artery disease (CAD).
Under a multi-year agreement, clinicians will be able to order blood draws on patients for testing through Quest's approximately 2,200 patient service centers and 4,000 phlebotomists in physician offices in the United States. Samples will be forwarded to CardioDx's CLIA-certified laboratory (in Redwood City, Calif.) for testing.
"This agreement will expand patient access to the Corus CAD test, a test that complements Quest's suite of advanced diagnostic information services for assessing risk of cardiovascular disease and personalizing treatment," said Patrick Plewman, General Manager of Quest Diagnostics Cardiovascular, Metabolic and Endocrinology Clinical Franchise. "The addition of this test to our offering provides a new avenue to generate value from Quest's uniquely large network of patient service centers and in-office phlebotomists in the United States."
"Following coverage of the Corus CAD test from Aetna and Coventry Health, this agreement with Quest represents another major milestone that will expand patient access to the test and allow CardioDx to strengthen relationships with clinicians," said David Levison, President and Chief Executive Officer of CardioDx. "Quest is the world leader in diagnostic testing, and we are thrilled that it will now be easier for patients to access the Corus CAD test."
CAD is the most common form of heart disease and is responsible for one in seven deaths in the United States. Diagnosis typically involves medical imaging or invasive procedures in which a catheter is inserted in an artery or vein in your groin, neck or arm and threaded through a person's blood vessel to visualize the heart arteries.
The Corus CAD test is the first and only commercially available blood-based test that provides a current-state assessment of obstructive CAD. With a 96% negative predictive value, the test incorporates age, sex, and gene expression measurements into a single score that indicates the likelihood of obstructive CAD. Combined with other clinical information, the test can help clinicians quickly, accurately, and safely determine if a patient's symptoms are caused by obstructive CAD.
Used early in the evaluation of symptomatic patients, the test can help clinicians determine whether or not further cardiac testing is necessary, thus helping patients avoid unnecessary noninvasive imaging and invasive cardiac procedures that are often more complex, expensive and expose patients to significant amounts of radiation and other adverse risks. Patients with low Corus CAD test scores had a statistically significant 82% decreased odds of referral for further cardiac evaluation or testing in a recently published study of 718 nonacute patients receiving the Corus CAD test in the primary care setting.
"As concerns about radiation exposure and test overutilization continue to grow within the medical community, the Corus CAD test is well positioned to address the need for solutions that minimize risk and help streamline clinical decision-making," added Mark Monane, M.D., Chief Medical Officer. "Quest has been at the forefront of adopting innovative diagnostic solutions that can help improve human health. We are proud to collaborate with them to help make the Corus CAD test available to more clinicians and patients across the country."
Separately, CardioDx's commercial operation continues to expand with a new $20 million round of financing from Solar Capital Ltd. and Silicon Valley Bank as well as current investors. The financing was facilitated by Armentum Partners.