Quest Di­ag­nos­tics buys Bert Vo­gel­stein’s Haystack On­col­o­gy, just six months af­ter Se­ries A

Quest Di­ag­nos­tics is buy­ing can­cer de­tec­tion start­up Haystack On­col­o­gy for $300 mil­lion in cash, with plans to launch a new can­cer lab test in 2024.

The biotech was de­vel­op­ing a min­i­mal resid­ual dis­ease (MRD) test, which is meant to de­tect can­cers that could come back. For Haystack, it’s al­so a re­mark­ably fast turn from seed round to Se­ries A to a ma­jor M&A ex­it. Start­ed in 2021 with $10 mil­lion in seed fund­ing, the biotech an­nounced a $56 mil­lion Se­ries A in No­vem­ber.

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