Myriad Genetics to buy pharmacogenomics specialist Assurex Health for up to 0 mn

US molecular diagnostic company Myriad Genetics yesterday struck a deal to buy Assurex Health for up to $410 million, in order to expand its genetic testing for psychotropic medicine selection. Under the terms of the deal, Myriad will make an upfront payment of $225 million and an additional $185 million if performance-based milestones are met. Myriad plans to fund the transaction through cash on hand and debt, and has obtained committed debt financing from JPMorgan Chase & Co. The deal will gives Myriad its first commercial neuroscience diagnostic test, GeneSight, whose potential market exceeds $4 billion, based upon current and future indications, according to Myriad. ”This acquisition provides an experienced commercial organization in the neuroscience market that we believe will be one of the highest growth areas for personalized medicine…


Link to Full Article: Myriad Genetics to buy pharmacogenomics specialist Assurex Health for up to 0 mn