While DermTech’s melanoma test has gained insurance coverage with many groups, including Medicare, it has not been reviewed or approved by the U.S. Food and Drug Administration
DermTech, a San Diego biotech company making a non-invasive skin test for melanoma, is based in Del Mar at 12340 El Camino Real. San Diego-based DermTech, a company that developed a noninvasive sticker to detect skin cancer, filed for bankruptcy protection Tuesday to restructure its debt and sell its assets.
DermTech, which went public in 2019, developed a noninvasive genomic approach to detecting skin cancer that relies on a smart sticker placed on a mole or dark skin patch. Rather than using a scalpel to collect skin tissue, the sophisticated sticker gathers samples from sensitive areas such as the neck, face and chest.
The local biotech sought help from financial firm TD Cowen to examine its strategic options including “an acquisition, merger, reverse merger, business combination, sale of assets, licensing or other transaction involving” DermTech.in Delaware — where it is incorporated — as it seeks “to continue its laboratory operations and processing orders for the DermTech Melanoma Test, while simultaneously conducting a process to sell substantially all of its assets.
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