LabCorp Announces Agreement to Acquire LipoScience

LabCorp Announces Agreement to Acquire LipoScience

NMR LipoProfile test expands LabCorp’s offering of personalized diagnostic tests
BURLINGTON, N.C.–(BUSINESS WIRE)–Sep. 25, 2014– Laboratory Corporation of America® Holdings (LabCorp®) (NYSE:LH) and LipoScience, Inc. (NASDAQ:LPDX), a provider of specialized cardiovascular diagnostic laboratory tests based on nuclear magnetic resonance (NMR) technology, today announced that they entered into a definitive merger agreement under which LabCorp would acquire LipoScience for a purchase price of $5.25 per share in cash, or a transaction value of $85.3 million which represents a total enterprise value of approximately $63 million. The Board of Directors of LipoScience has unanimously approved the agreement and recommended approval of the transaction by LipoScience’s stockholders.

“We are very pleased that LipoScience, a premier laboratory focused on personalized diagnostics for cardiovascular and metabolic disorders, is joining the LabCorp family,” said David P. King, Chairman and Chief Executive Officer of LabCorp. “LipoScience’s NMR LipoProfile test will enhance our innovative clinical decision support programs, advancing the Fifth Pillar of our strategy as we provide ever-broader, differentiated knowledge services to physicians and patients. Furthermore, LipoScience’s novel application of NMR technology furthers the Fourth Pillar of our strategy by continuing our leadership in scientific innovation. In addition to LipoScience’s strategic fit, the transaction is expected to be accretive to LabCorp’s earnings in year one, and to earn its cost of capital by year three.”

LipoScience Announces Appointment of Howard Doran as President and Chief Executive Officer

Senior Executive From Cytyc Corporation, Hologic, Inc. and Constitution Medical Brings Deep IVD Leadership Experience to LipoScience

RALEIGH, N.C., Jan. 22, 2014 (GLOBE NEWSWIRE) — LipoScience, Inc. (Nasdaq:LPDX) today announced the appointment of
Howard Doran to the position of President and Chief Executive Officer and as a member of the LipoScience, Inc. Board of Directors, effective February 3, 2014.

LipoScience Announces New Data Supporting High-Density Lipoprotein Particle (HDL-P) Number As Marker Of Cardiovascular Risk

 
JUPITER study data published in Circulation, suggest HDL-P may be a better marker of residual risk than HDL cholesterol or apolipoprotein A-1 in patients on statin therapy

RALEIGH, N.C., Sept. 4, 2013 /PRNewswire/ — LipoScience, Inc., (NASDAQ: LPDX) a diagnostic company pioneering a new field of personalized nuclear magnetic resonance (NMR) diagnostics to advance the quality of patient care in cardiovascular, metabolic and other diseases, today announced the publication of data supporting the measurement of high-density lipoprotein particle (HDL-P) number as a marker of cardiovascular risk in patients on cholesterol-lowering statin therapy. The JUPITER data analysis appeared September 3, 2013 in the online version of the journal Circulation in advance of the September 10, 2013 print issue.

LipoScience Research Sheds Light On Novel Markers Via Nuclear Magnetic Resonance (NMR) Spectroscopy

 
Posters Presented at American Association of Clinical Chemistry (AACC) Meeting Highlight Utility of NMR Technology in Inflammatory Disease Risk Assessment and Diagnosis of Diabetes

RALEIGH, N.C., JULY 31, 2013 — /PRNewswire/ — Researchers from LipoScience, Inc. (NASDAQ: LPDX), a diagnostic company pioneering a new field of personalized NMR diagnostics to advance the quality of patient care in cardiovascular, metabolic and other diseases, are presenting two posters today that highlight the utility of the company’s proprietary nuclear magnetic resonance (NMR) technology in measuring novel markers of systemic inflammation, as well as in diagnosing diabetes through measurement of blood glucose. The posters, which will be presented during the Technology/Design Development session at the American Association of Clinical Chemistry (AACC) annual meeting in Houston, Tex., will be on display today from 9:30 a.m. to 5:00 p.m.

LipoScience Announces Closing of Initial Public Offering

 

RALEIGH, N.C.  – January  30, 2013  – LipoScience, Inc. (NASDAQ:  LPDX) today announced it has closed its previously announced initial public offering of 5,000,000 shares of common stock at a price to the public of $9.00 per share.  In connection with the initial public offering, the underwriters exercised in full their option to purchase an additional 750,000 shares from the company.  As a result, the total initial public offering size was  5,750,000 shares. LipoScience expects to receive, after deducting underwriting discounts and commissions and estimated offering expenses payable by  the company, net proceeds of approximately $44.9 million from the offering.

LipoScience Press Release – LipoScience Announces Closing of Initial Public Offering

RALEIGH, N.C.  – January  30, 2013  – LipoScience, Inc. (NASDAQ:  LPDX) today announced it has closed its previously announced initial public offering of 5,000,000 shares of common stock at a price to the public of $9.00 per share.  In connection with the initial public offering, the underwriters exercised in full their option to purchase an additional 750,000 shares from the company.  As a result, the total initial public offering size was  5,750,000 shares. LipoScience expects to receive, after deducting underwriting discounts and commissions and estimated offering expenses payable by  the company, net proceeds of approximately $44.9 million from the offering. 

LIPOSCIENCE COLLABORATES WITH A LEADING ACADEMIC MEDICAL CENTER TO IDENTIFY RISK FACTORS AIMED AT IMPROVING MANAGEMENT OF ACUTE CORONARY SYNDROME

RALEIGH, N.C. – January 09, 2013 – LipoScience, Inc., an in vitro diagnostic company committed to advancing patient care in cardiovascular, metabolic and other diseases, today announced that it has entered into a research agreement with Duke University School of Medicine. The research will be aimed at identifying cardiovascular risk factors that can be used alone or in combination with other clinical
measures to improve stratification and management of acute coronary syndrome. The agreement encompasses studies to be performed with Duke’s CATHGEN (CATHeterizationGENetics) and other patient registries.

LipoScience Receives FDA Clearance for Vantera Clinical Analyzer

RALEIGH, N.C.–(BUSINESS WIRE)–September 5, 2012--LipoScience, Inc., an in vitro diagnostic company committed to advancing patient care in cardiovascular, metabolic and other diseases, today announced that it has received 510(k) clearance from the U.S. Food and Drug Administration to market the Vantera® Clinical Analyzer.

The Vantera Clinical Analyzer combines nuclear magnetic resonance (NMR) spectroscopic detection and proprietary signal processing algorithms to identify and quantify concentrations of lipoproteins and, potentially, small molecule metabolites. It requires no previous knowledge of NMR technology to operate and has been designed to dramatically simplify complex technology. Ease-of-use and walk-away automation provide efficient workflow to maximize laboratory resources while producing high quality results.

“LipoScience is pioneering a new field of personalized diagnostics based on NMR technology,” said Rick Brajer, Chief Executive Officer of LipoScience. “The FDA clearance of our Vantera Clinical Analyzer is a pivotal event that advances our vision of decentralizing our technology and becoming a clinical standard of care.”

The first assay cleared on this new in vitro diagnostic platform is low density lipoprotein particle number (LDL-P). LDL-P is a key component of LipoScience’s NMR LipoProfile® test, which provides physicians and their patients with actionable information to personalize management of risk for heart disease from a single blood sample. To date, over 8 million NMR LipoProfile tests have been ordered to aid in the management of patients’ heart health.

“Historically, all NMR LipoProfile tests have been performed at LipoScience’s CLIA-certified laboratory in North Carolina,” said Tom Clement, Vice President of Regulatory and Quality Affairs. “The 510(k) clearance of the Vantera Clinical Analyzer will allow us to place Vantera systems in select high-volume national and regional clinical diagnostic laboratories across the U.S., as well as at leading medical centers and hospital outreach laboratories, in order to drive both geographic expansion and the technology adoption necessary for successful execution of our market conversion strategy.”

About LipoScience, Inc. 

LipoScience, Inc. is pioneering a new field of personalized diagnostics based on nuclear magnetic resonance (NMR) technology. Its first proprietary diagnostic test, the NMR LipoProfile® test, measures the number of low density lipoprotein particles (LDL-P) in a blood sample and provides physicians and their patients with actionable information to personalize management of risk for heart disease. To date, over 8 million NMR LipoProfile tests have been ordered. LipoScience’s automated clinical analyzer, Vantera has recently been cleared by the FDA and will be placed with national and regional clinical laboratories. LipoScience is driving toward a clinical standard of care by decentralizing its technology and expanding its menu of personalized diagnostic tests to address a broad range of metabolic and other diseases. For further information on LipoScience, please visit www.liposcience.com and www.theparticletest.com.

Clinical Data Finds Strong Association Between HDL Particles and Coronary Heart Disease

 

Study published in JACC suggests HDL particles may be a more accurate indicator of cardiovascular health than HDL cholesterol

RALEIGH, N.C. – July 12, 2012 – LipoScience, Inc., an in vitro diagnostic company advancing patient care by developing high value proprietary clinical diagnostic tests using nuclear magnetic resonance (NMR) technology, today announced publication of the findings of a clinical study in the current issue of the Journal of the American College of Cardiology indicating that high density lipoprotein (HDL) particle number has a stronger, more independent association with coronary heart disease and carotid atherosclerosis than HDL cholesterol (HDL-C).

Clinical Data Finds Strong Association Between HDL Particles and Coronary Heart Disease

Study published in JACC suggests HDL particles may be a more accurate indicator of cardiovascular health than HDL cholesterol

RALEIGH, N.C. – July 12, 2012 – LipoScience, Inc., an in vitro diagnostic company advancing patient care by developing high value proprietary clinical diagnostic tests using nuclear magnetic resonance (NMR) technology, today announced publication of the findings of a clinical study in the current issue of the Journal of the American College of Cardiology indicating that high density lipoprotein (HDL) particle number has a stronger, more independent association with coronary heart disease and carotid atherosclerosis than HDL cholesterol (HDL-C).