Personal Genome Diagnostics (PGDx), a cancer genomics company founded by Johns Hopkins researchers that has grown a base in Baltimore over the last decade, was acquired by life sciences company Labcorp.

Labcorp will pay $450 million in cash at closing, which is expected in the first half of 2022, with the potential for an additional $125 million to be paid based on future performance milestones. A Labcorp spokesperson said the two companies will operate separately until the deal is final, likely by the close of Q2.

Founded in 2010 by pioneering cancer scientists Dr. Luis Diaz and Dr. Victor Velculescu, PGDx set out to expand access to genomic-level tests for cancer. It most prominently developed kits that test a sample using chemistry performed on a DNA sample and software to automate data analysis. This analysis can be completed in a molecular lab at a hospital or clinic, meaning tests can be completed locally instead of being sent to a faraway lab. A PGDx product known as elio tissue complete received FDA clearance last year to analyze solid cancer tumor with a panel of more than 500 genes — a first for the test of its kind.

Specializing in technology known as next generation sequencing, the company has a portfolio of products that screen for cancer from a solid sample, as well as a blood sample, which is an emerging area known as liquid biospy. It’s among a generation of companies working to bring innovative tools that will provide doctors and patients with more precise information to make decisions about the best treatment for cancer.

Labcorp said the acquisition of PGDx will enhance its ability to open up access to the technology at hospitals, and bring it to pharmaceutical companies for clinical trial research.