Personal Genome Diagnostics (PGDx) was established to advance cancer diagnosis and treatment through innovative genomic technologies. Founded in 2010 by Johns Hopkins University researchers Luis Diaz, MD and Victor Velculescu, MD, PhD, PGDx develops a range of products that offered gene-level analysis of cancerous tumors.
PGDx’s proprietary technologies, such as METDetect™ and PlasmaSELECT™ 64, have transformed the landscape of cancer diagnostics. These non-invasive alternatives to traditional biopsies enable accurate tumor profiling from simple blood draws, which identify clinically actionable mutations and structural alterations across multiple cancer types.
In 2020, PGDx’s flagship product, the Elio Tissue Complete, received FDA clearance. This diagnostic kit offers a comprehensive genomic profile of solid cancer tumors, analyzing over 500 genes. By combining advanced chemistry performed on DNA samples with sophisticated software that automated data analysis, Elio Tissue Complete allows high-level genomic analysis to be conducted locally in hospital or clinic labs, democratizing access to cutting-edge diagnostics.
PGDx’s journey has been marked by significant funding milestones. In 2014, the company raised $2.8 million from private investors to propel its research into tumor DNA and develop new gene tests. This was followed by a $75 million Series B financing round in 2018, co-led by Bristol-Myers Squibb and New Enterprise Associates (NEA). In 2021, PGDx secured $103 million in a Series C round to further its commercialization efforts and expand its product portfolio.
Despite the challenges of operating a biotech startup, PGDx remains committed to its roots in Baltimore. The company grew its presence, occupying over 50,000 square feet of space, and employing around 200 people. This commitment to the local community underscores PGDx’s dedication to fostering innovation and growth in the region.
At the end of 2021, the company announced it would be acquired by Labcorp for $450 million, with an additional $125 million contingent on future performance milestones. This acquisition helped enhance Labcorp’s ability to provide personalized treatments for cancer patients globally and expand access to PGDx’s innovative genomic technologies.
PGDx exemplifies the spirit of innovation and dedication that defines the Johns Hopkins entrepreneurial ecosystem. By leveraging cutting-edge science and technology, PGDx has made a profound difference in the lives of cancer patients worldwide. As part of the 10 Innovations in 10 Years series, PGDx stands out as a beacon of hope and progress in the battle against cancer.
PGDx Milestones
- April 2014: PGDx launched METDetect™, a less invasive alternative to tumor biopsies.
- October 2016: PGDx launched PlasmaSELECT™ 64, a targeted panel for pan-cancer tumor profiling.
- January 2018: PGDx secured $75 million in Series B financing and received FDA clearance for its PGDx elio tissue complete test.
- July 2018: PGDx received a “Breakthrough Device” designation from the FDA for its PGDx elio plasma resolve test.
- February 2021: PGDx raised $103 million in a Series C round to support commercialization efforts.
- December 2021: PGDx announced Labcorp would acquire the company for $450 million, with the potential for an additional $125 million based on future performance milestones.