Metamark Genetics

About Metamark Genetics

Metamark Genetics, Inc. operates in the oncology-focused molecular diagnostics sector, concentrating on the development and commercialization of tests for urological cancers. Founded in 2007, the company aims to provide clinicians and patients with tools to make more informed treatment decisions. One of its co-founders, Kenneth Weg, also served as the founding chairman and has been an active member of the board.

The company's business model revolves around developing and providing prognostic and predictive assays. Its flagship product, ProMark™, is a proteomic-based biopsy test designed to assess the aggressiveness of early-stage prostate cancer. Launched nationwide in October 2014, ProMark analyzes eight specific protein biomarkers from prostate tissue to generate a risk score. This score helps differentiate between indolent and aggressive disease, guiding decisions about whether to pursue active surveillance or more definitive treatments like surgery or radiation. The test has been validated in clinical studies involving over 1,250 patients and has received Medicare coverage, enhancing its accessibility. Metamark also offers the Progensa® PCA3 test, a urine-based molecular diagnostic to assess the need for repeat biopsies.

Financially, Metamark has navigated several funding rounds, raising a total of $47.6 million across four rounds to support its research, development, and commercialization efforts. This includes a notable $22 million Series B round in July 2010 and another $13 million Series B round in November 2012. The company has also engaged in strategic acquisitions to bolster its market position. In August 2013, Metamark acquired HealthTronics Laboratory Solutions, a provider of urological pathology services, to create an integrated clinical model for the prostate cancer care pathway. Later, in November 2016, the Metamark Laboratories division was acquired by P4 Diagnostix Laboratory Network, a move intended to expand P4's geographic reach and testing portfolio while P4's divisions act as distribution partners for Metamark Genetics' biomarker assays like ProMark®.

Leadership has evolved over the years, with several individuals holding the CEO position, including Mark Straley, Shawn M. Marcell, and Jerry Williamson, who was appointed in February 2016. Kenneth Weg, a co-founder, has remained a consistent presence, serving as chairman of the board.