The acquisition will enable Veracyte to develop and produce test kits for the nCounter diagnostic platform
HalioDx’s Immunogram multimodal analysis platform will help Veracyte to expand its biopharma partnering business. (Credit: Adam Radosavljevic from Pixabay)
Genomic diagnostics company Veracyte has agreed to acquire immuno-oncology diagnostics company HalioDx in a deal valued at around €260m.
Under the deal, HalioDx will be paid €147m in cash and up to €113m in stock by Veracyte.
HalioDx provides advanced diagnostic products and services to oncologists and drug development organisations.
The company offers a range of immune assessment solutions, including Immunoscore assay to evaluate the immune contexture of a tumour.
The Immunoscore test is said to expand Veracyte’s menu of advanced diagnostic tests.
HalioDx has designed an advanced biopharma partnering ecosystem to help detect clinically relevant biomarker signatures, as well as to demonstrate their usage in clinical trials and the development and commercialisation of resulting IVD and companion diagnostic tests.
The firm manages CLIA-certified laboratories in the US and France. It also operates a manufacturing facility in France to develop, produce and supply in vitro diagnostic clinical products.
The acquisition of HalioDx will allow Veracyte to develop and produce test kits for the nCounter diagnostic platform.
HalioDx’s Immunogram multimodal analysis platform will help Veracyte to expand its biopharma partnering business.
Veracyte executive chairwoman Bonnie Anderson said: “The acquisition of HalioDx will further enable our long-term growth by providing key strategic capabilities to help us to execute on our powerful vision of improving outcomes for patients all over the world at every step of their journey.
“Our prior strategic acquisitions brought exclusive global access to a best-in-class diagnostic platform and a significantly expanded cancer testing menu.”
Subject to the satisfaction of customary closing conditions including foreign investment approval in France, the deal is expected to be completed in the third fiscal quarter of this year.
HalioDx will become a subsidiary of Veracyte, once the deal concludes.
Goldman Sachs is acting as financial advisor to Veracyte, while Fenwick & West and Latham & Watkins are acting as Veracyte’s legal advisors in the US and France. Shearman & Sterling is acting as legal advisor to HalioDx.
In February this year, Veracyte agreed to acquire US-based commercial-stage precision oncology company Decipher Biosciences.