M&A Deal Summary

Castle Biosciences Acquires AltheaDx

On April 4, 2022, Castle Biosciences acquired life science company AltheaDx from Telegraph Hill Partners for 65M USD

Acquisition Highlights
  • This is Castle Biosciences’ 3rd transaction in the Life Science sector.
  • This is Castle Biosciences’ largest (disclosed) transaction.
  • This is Castle Biosciences’ 4th transaction in the United States.
  • This is Castle Biosciences’ 1st transaction in California.

M&A Deal Summary
Date 2022-04-04
Target AltheaDx
Sector Life Science
Buyer(s) Castle Biosciences
Sellers(s) Telegraph Hill Partners
Deal Type Add-on Acquisition
Deal Value 65M USD

Target

AltheaDx

San Diego, California, United States
AltheaDx is a commercial-stage molecular diagnostics company specializing in the field of pharmacogenetics, or PGx. AltheaDx's product testing portfolio enables personalized therapeutic decisions for patients suffering from some of the most prevalent clinical conditions in the United States, including cardiovascular disease, neuropsychiatric disorders, and pain. AltheaDx was founded in 1998 and is based in San Diego, California.

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Buyer(S) 1

Buyer

Castle Biosciences

Friendswood, Texas, United States
Category Company
Founded 2007
Sector Healthcare Services
Employees703
Revenue 220M USD (2023)
DESCRIPTION

Castle Biosciences is a developer and commercializes diagnostic and prognostic tests for dermatologic cancers. Castle Biosciences was incorporated in 2007 and is based in Friendswood, Texas.

DEAL STATS #
Overall 4 of 4
Sector (Life Science) 3 of 3
Type (Add-on Acquisition) 2 of 2
State (California) 1 of 1
Country (United States) 4 of 4
Year (2022) 1 of 1
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-19 Cernostics

Pittsburgh, Pennsylvania, United States

Cernostics specializes in spatial biology and artificial intelligence-driven image analysis of tissue biopsies. Its TissueCypher® Barrett’s Esophagus Assay is the first precision medicine test designed to predict future development of high-grade dysplasia (HGD) and/or esophageal cancer in patients with Barrett’s esophagus (BE). Cernostics is based in Pittsburgh, Pennsylvania.

Buy $30M

Seller(S) 1

SELLER

Telegraph Hill Partners

San Francisco, California, United States

Investor Investor Investor Investor Investor

Category Venture Capital Firm
Founded 2001
Size Middle-Market
Type Sector Focused
DESCRIPTION

Telegraph Hill Partners is a specialist private equity firm focused on investing in later-stage life science, medical device, and healthcare companies. Prospective companies should be at or near profitability and demonstrate success. Other areas of interest within the healthcare sector include life science technologies, chemistry/reagent suppliers, and information management. Telegraph Hill Partners was formed in 2001 and is based in San Francisco, California.

DEAL STATS #
Overall 26 of 29
Sector (Life Science) 12 of 13
Type (Add-on Acquisition) 21 of 24
State (California) 16 of 18
Country (United States) 25 of 28
Year (2022) 1 of 2
Size (of disclosed) 9 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-14 Agena Bioscience

San Diego, California, United States

Agena Bioscience is a life science and clinical diagnostics company that offers the MassARRAY® System. The system is a highly sensitive, quantitative method for nucleic acid detection via MALDI-TOF mass spectrometry for high-throughput genotyping and mutation profiling for cancer and other disease research, companion diagnostics, pharmacogenomics, epigenetics, clinical genetics, ag-bio genetics, and biobanking molecular sample identification. Agena Bioscience was established in 2014 and is based in San Diego, California.

Sell $300M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-04-12 Specific Diagnostics

San Jose, California, United States

Specific Diagnostics is a developer of in vitro diagnostic systems for the detection and identification of microorganisms while they grow in culture. Specific Diagnostics was founded in 2011 and is based in San Jose, California.

Sell -
Mergr

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