Pioneering lab firm seizes opportunities

NeoGenomics is having a big 2021. The list includes a new CEO, acquisitions worth $450 million and substantial work on a $60 million headquarters.

By Mark Gordon
| 10:00 a.m. June 24, 2021
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Stefania Pifferi. Studio+ CEO Damon Romanello, Seagate CEO Matt Price and NeoGenomics executive Helen Edenfield say teamwork between the three companies has been essential in NeoGenomicsâ€™ $60 million headquarters project.

Commercial Real Estate

NeoGenomics global director of facilities and operations Helen Edenfield takes great pride in putting a premium on aesthetics in the design of the firm’s sleek new Fort Myers headquarters.

Big deals

Fort Myers-based NeoGenomics has been busy on the acquisition front in 2021, with two major deals including:

• On May 4 NeoGenomics entered into a share purchase agreement to acquire Inivata, a $390 million deal. Cambridge, U.K.-based Inivata is a pioneer in oncology-based liquid biopsy — using a blood draw to test for essential genomic information for cancer patients. NeoGenomics invested $25 million into Inivata in May 2020, when it was also granted a fixed price option to purchase the remainder of the firm for $390 million prior to Dec. 31, 2021. “Liquid biopsy is the next frontier for cancer treatment,” says NeoGenomics CEO Mark Mallon.

• On April 7 it closed on the deal to buy Intervention Insights, which does business as Trapelo Health. Trapelo, founded in the Boston area, is an IT company focused on integrating artificial intelligence into precision oncology, according to a statement. NeoGenomics paid $65 million for the company, $35 million in cash and $30 million in common stock. The software database allows community oncologists to make the right decision at the right time, Mallon says, while also receiving approvals from payers to pay for the tests. “I think this has the potential to transform cancer care for patients who are seeing community oncologists,” Mallon says.