22 May 2013 - 22 May 2013 - US not-for-profit medical research and practice group Mayo Clinic and Cancer Genetics Inc (OTCBB:CGIX) said today they have launched their equally-owned joint venture focused on next-generation sequencing diagnostics tests.

The JV, dubbed OncoSpire Genomics, will concentrate on mutually identified projects in the Biomarker Discovery Program within Mayo's Center for Individualized Medicine. Initial focus will include haematological and urogenital cancers, and potentially other cancers.

The new entity will obtain operating capital, commercial expertise and guidance from Cancer Genetics while Mayo will contribute in-kind with sequencing and laboratory resources, clinical and research know-how, and other operational resources.