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.

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.