Genomic Health
Company logo
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| Public | |
| Traded as | NASDAQ: GHDX |
| ISIN | US37244C1018 |
| Industry | Genomics |
| Founded | August 2000 in Redwood City, California, United States |
| Founder | Randy Scott |
| Headquarters | Redwood City, California, US |
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Key people
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| Products | Oncotype DX |
| Revenue | |
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Number of employees
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500 (2012) |
| Website | www |
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Footnotes / references |
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Genomic Health is a company focusing on genetic research specifically in cancer detection, based out of Redwood City, California.
Genomic Health, Inc. was founded in 2000 by Randy Scott, who had previously founded and been CEO at Incyte. He formed the company after a close friend was diagnosed with cancer and had the idea for treatment based on the specific genome of their tumor.
By 2004 Genomic Health had developed Oncotype DX, a genomic assay that quantified the likelihood of breast cancer recurrence. This development took the company over three years and US$30,000,000 to complete and then had to convince skeptics at the time of the validity of genetic testing.
In July 2005 Genomic Health filed for an initial public offering to sell up to US$75,000,000 in common stock. Investors at the time already included Versant Ventures and Kleiner Perkins Caufield & Byers. On September 29, 2005 it was listed on the NASDAQ with the symbol GHDX with the initial share price of US$12 for 5016722 shares.
In 2010 the Oncotype DX Colon Cancer Assay was developed. This was able to expand on their previous technology that focused on breast cancer to also work with colorectal cancer. Genomic Health also started a subsidiary in 2010, Invitae, with the goal of aggregating multiple genetics tests.
The company expanded with international headquarters in Geneva Switzerland and UK headquarters in London in 2011.
In 2013 their offerings were increased with the launch of Oncotype DX Prostate Cancer Test. The test predicts some forms of prostate cancer, helping physicians determine which patients can fall under active surveillance and which cannot. Knowing which tumors are threatening allow patients to avoid unneeded surgery or radiation treatments the can cause impotence and incontinence.
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