Tuesday, May 29, 2018

Myriad Genetics Buys Counsyl For $375M

San Francisco-based prenatal DNA screening startup Counsyl has been acquired by Salt Lake City, Utah-based Myriad Genetics, which develops molecular diagnostics and personalized medicine products, 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. Counsyl was venture backed by Rosemont Seneca Technology Partners, Goldman Sachs Asset Management, Perceptive Advisors, Pilot Growth Equity, Founders Fund, Great Oaks VC, Gramercy Fund, Felicis Ventures as well as others.