Tuesday, May 29, 2018

Myriad Genetics Buys Counsyl For $375M

Salt Lake City-based Myriad Genetics, which develops molecular diagnostics and personalized medicine products, said Monday that it has acquired San Francisco-based prenatal DNA screening startup Counsyl, in a deal worth $375M. Myriad Gentics said it will use the acquisition to create a new women's health business unit, in the high growth genetic testing market. Myriad is paying $375M in a combination of cash and stock for Counsyl, which provided an expanded set of carrier screening and non-invasive prenatal screening tests. Myriad was advised by Lazard, Mintz Levin Cohn Ferris Glovsky and Popeo PC in the transaction; Counsyl was advised by Piper Jaffray and Cooley LLP.