MELA Sciences initiates study on clinical impact of MelaFind on melanoma biopsy MELA Sciences announced that it has initiated a study to examine the real-world clinical impact of MelaFind on dermatologists' decision to biopsy pigmented skin lesions that are suspicious for melanoma. CEO Rose Crane commented, "This trial is significant as the data will be based on patient assessments by dermatologists using the MelaFind system. It will provide us with a measure of the real-world clinical impact of MelaFind on melanoma diagnosis, and we believe it will support our case for insurance reimbursement. We welcome Dr. Rigel's oversight as the principal investigator of this important study."
MELA Sciences acquires XTRAC, VTRAC business from PhotoMedex for $42.5M MELA Sciences announced that it has signed and completed the purchase of the XTRAC and VTRAC Dermatology business from PhotoMedex, Inc. for $42.5M in cash and the assumption of certain business-related liabilities. The purchase price includes all of the accounts receivable, inventory and fixed and intangible assets of the businesses. To fund the purchase price of the transaction, the company has issued senior secured notes and convertible debentures equal to the transaction purchase price to certain investors. The XTRAC and VTRAC businesses generated $30.6M in revenues in 2014.