Decentralized trials company Science 37 to go private in deal with diagnostics startup eMed

Sci­ence 37, one of the star­tups that fu­eled the rise in de­cen­tral­ized clin­i­cal tri­als, will go pri­vate and see its one-time $1 bil­lion val­u­a­tion evap­o­rate to just a $38 mil­lion eq­ui­ty val­ue in an all-cash deal with eMed.

The tele­health and di­ag­nos­tics com­pa­ny eMed, which gained pop­u­lar­i­ty dur­ing the pan­dem­ic for its at-home Covid-19 test in 2020, will buy Sci­ence 37 for $5.75 per share in cash, the com­pa­nies said Mon­day morn­ing. The deal rep­re­sents a 21.3% pre­mi­um to Sci­ence 37’s Fri­day clos­ing price. The North Car­oli­na com­pa­ny’s shares $SNCE were up about 17% be­fore the open­ing bell.

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