Veracyte to buy C2i Genomics for up to $95M, includes $70M upfront
In announcing plans on Monday to pay up to $95 million for C2i Genomics, Veracyte is betting that it will expand further along the cancer care continuum.
The transaction involves $70 million upfront using Veracyte’s own shares, and up to an additional $25 million in milestone payments, payable in Veracyte shares or cash. The deal is expected to close in the first quarter.
Veracyte makes tests for guiding physicians in tough-to-treat diseases, including thyroid, prostate, breast, bladder and lung cancers, as well as interstitial lung diseases. By acquiring C2I, Veracyte can better monitor the success of a cancer therapeutic or surgical interventions.
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