M&A Deal Summary

Castle Biosciences Acquires Myriad myPath Melanoma

On April 27, 2021, Castle Biosciences acquired healthcare services company Myriad myPath Melanoma from Myriad for 33M USD

Acquisition Highlights
  • This is Castle Biosciences’ 1st transaction in the Healthcare Services sector.
  • This is Castle Biosciences’ 3rd largest (disclosed) transaction.
  • This is Castle Biosciences’ 2nd transaction in the United States.
  • This is Castle Biosciences’ 2nd transaction in Utah.

M&A Deal Summary
Date 2021-04-27
Target Myriad myPath Melanoma
Sector Healthcare Services
Buyer(s) Castle Biosciences
Sellers(s) Myriad
Deal Type Divestiture
Deal Value 33M USD

Target

Myriad myPath Melanoma

Salt Lake City, Utah, United States
Myriad myPath Melanoma is a clinically validated GEP test designed to be used as an adjunct to histopathology when the distinction between a benign nevus and a malignant melanoma cannot be made confidently by histopathology alone.

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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 2 of 4
Sector (Healthcare Services) 1 of 1
Type (Divestiture) 2 of 2
State (Utah) 2 of 2
Country (United States) 2 of 4
Year (2021) 2 of 3
Size (of disclosed) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-27 Myriad myPath Laboratory

Salt Lake City, Utah, United States

Myriad myPath Laboratory is a CLIA-certified laboratory, where the myPath Melanoma 23-gene expression profile (GEP) test was developed and is currently owned and offered. Myriad myPath Laboratory is based in Salt Lake City, Utah.

Buy $33M
FOLLOWING 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

Myriad

Salt Lake City, Utah, United States
Category Company
Founded 1991
Sector Life Science
Employees2,700
Revenue 753M USD (2023)
DESCRIPTION

Myriad is a molecular diagnostic company discovers and commercialize a transformative tests to assess a person's risk of developing disease, guide treatment decisions and assess risk of disease progression and recurrence. Myriad was founded in 1991 and is based in Salt Lake City, Utah.

DEAL STATS #
Overall 2 of 4
Sector (Healthcare Services) 1 of 1
Type (Divestiture) 2 of 4
State (Utah) 2 of 3
Country (United States) 2 of 4
Year (2021) 2 of 4
Size (of disclosed) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-27 Myriad myPath Laboratory

Salt Lake City, Utah, United States

Myriad myPath Laboratory is a CLIA-certified laboratory, where the myPath Melanoma 23-gene expression profile (GEP) test was developed and is currently owned and offered. Myriad myPath Laboratory is based in Salt Lake City, Utah.

Sell $33M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-03 Myriad Autoimmune s Vectra Testing Business

Salt Lake City, Utah, United States

Myriad Autoimmune's Vectra Testing Business is a non-invasive, blood-based test that analyzes 12 biomarkers to measure RA disease activity. It combines those measures to generate an easy-to-understand score, which indicates the severity of RA inflammation and how well current treatments are working. It also can predict potential, future joint damage. This enables the 5,000 practicing rheumatologists in the U.S. to provide targeted treatment and adjust existing treatments to better manage RA symptoms.

Sell $150M
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