Myriad Genetics, Inc. (NASDAQ:MYGN), a molecular diagnostics and personalized medicine company, is to acquire Assurex Health, a provider of genetic testing solutions for psychotropic medicine selection.
The deal amounted to $225m upfront with the potential for $185m in additional performance-based milestones.
Led by Virginia C. Drosos, president and CEO, Assurex Health is an informatics-based precision medicine company providing treatment decision support to healthcare providers for mental health. Its lead product, GeneSight®Psychotropic, evaluates 12 genes known for psychotropic drug response, and – utilizing a proprietary combinatorial pharmacogenomics approach called CPGx – assigns patients into one of over 300,000 unique composite phenotypes.
Backers in the company included GE Capital, Healthcare Financial Services, Silicon Valley Bank, Sequoia Capital, Claremont Creek Ventures, Mayo Clinic, Cincinnati Children’s Hospital Medical Center, CincyTech, Allos Ventures, Four Rivers Partners, Danmar Capital, and jVen Capital.
Read the entire press release here