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Biora Therapeutics Inc. Company profile

Progenity (PROG)/Biora Therapeutics (BIOR) is a biotechnology firm focused on the development of oral biotherapeutics. Founded in 2010, the company creates drug-device combinations that enable new therapeutic delivery methods in two main areas:

• Targeted delivery of therapeutics to the site of disease in the gastrointestinal (GI) tract, to improve outcomes for patients with Inflammatory Bowel Disease (IBD)

• Systemic biotherapeutic delivery, which is intended to replace injection with needle-free, oral delivery technology

Progenity is also working on diagnostic tools to help characterise the GI tract and diagnose GI diseases such as Small Intestine Bacterial Overgrowth (SIBO). The technologies can pinpoint the location of the disease.

Prior to June 2021, the San Diego, California-based company focused on the prenatal carrier screening and non-invasive prenatal test market. It targeted preconception planning and routine pregnancy management for genetic disease risk assessment.

The company’s operations included anatomic and molecular pathology testing products under an affiliate, Avero Diagnostics.

A former affiliate, Mattison Pathology, a Texas firm trading as Avero Diagnostics, expanded the company’s operations to include anatomic and molecular pathology testing products.

The company also operated a certified laboratory in Michigan that specialised in the molecular testing markets serving women’s health providers in the obstetric, gynaecological, fertility, and maternal foetal medicine speciality areas in the US.

In June 2021, Progenity announced a strategic transformation which included closing the Progenity genetics lab in Ann Arbor, Michigan. It sold the Avero laboratory business in December 2021 as part of the transformation. 

On 12 April 2022, Progenity announced it would change its name to Biora Therapeuctics in the second quarter of 2022. The strategy aims to better reflect its focus of developing targeted and systemic oral delivery of biotherapeutics.

The company will also change its stock symbol on the Nasdaq from PROG to BIOR.  Progenity went public on 19 June 2020.