OncoMark: US medtech acquires UCD spin-out OncoMark

University College Dublin (UCD) has formally announced the acquisition of spin-out company OncoMark by US molecular diagnostics company Cepheid. OncoMark was founded by Prof William Gallagher and Steve Penney as a spin-out from the UCD School of Biomolecular and Biomedical Science and the UCD Conway Institute. The start-up developed a novel test for early-stage breast cancer called OncoMasTR, which aims to reduce the number of breast cancer patients undergoing unnecessary chemotherapy. Prior to its acquisition, OncoMark was backed by investors including Kernel Capital, Irrus Investments, Galway†s HBAN medtech syndicate, Enterprise Ireland and private investors. This was updated to clarify that the OncoMark team has started a new company called OncoAssure, which is not owned by Cepheid.