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New Deal


Announced

Castle Biosciences to acquire Cernostics for $80m.

Financials

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Transaction Value£59m
Consideration Type-
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Single Bidder

Pharmaceuticals

Acquisition

spatial biology

Domestic

Friendly

Pending

Biotechnology

Private

United States

Majority

Venture Capital

Synopsis

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Castle Biosciences agreed to acquire Illumina Ventures company, Cernostics, spatial analytics platform, in a cash-and-stock deal worth $30m. The deal also involves future contingent milestone payments in cash or stock of up to $50m. "Acquiring the TissueCypher platform is aligned with our commitment to utilizing innovative technology to provide clinically actionable information that guides disease management and improves patient outcomes. Unfortunately, the incidence of esophageal cancer is increasing at one of the fastest rates of all cancers in the US, so we need new clinical tools to reverse this growth trend in the diagnosis of esophageal adenocarcinoma (EAC)," Derek Maetzold, Castle Biosciences CEO.

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