ARTICLE | Strategy

At the crossR(x)oaD(x)s

April 10, 2006 7:00 AM UTC

Having reached a crossroads with its diagnostic and therapeutic programs, diaDexus Inc. has spun off the latter into CFD Therapeutics Inc. The move will allow the diagnostics side to become cash flow positive by 2008, while CFD now has the freedom to develop its monoclonal antibodies for solid tumor indications.

diaDexus (South San Francisco, Calif.) was founded in 1997 as a joint venture between Incyte Pharmaceuticals Inc. (INCY, Wilmington, Del.) and GlaxoSmithKline plc (LSE:GSK; GSK, London, U.K.) to study gene expression in cancer cells in order to develop molecular diagnostics (see BioCentury, Sept. 8, 1997). According to President and CEO Patrick Plewman, the company had "always known we'd eventually spin out or partner our therapeutic program because we never had any intention of becoming a fully integrated pharmaceutical company." ...