Veracyte Inc. revealed plans to buy C2i Genomics Inc. at the J.P. Morgan Health Care Conference in San Francisco on Jan. 8, a move that will significantly expand its portfolio of cancer diagnostic and monitoring assays. The terms include $70 million in Veracyte shares to be paid at closing plus an addition $25 million payable in cash or Veracyte shares over the next two years if C2i achieves certain performance milestones.
Bayer Corp. and Veracyte Inc. are collaborating in the thyroid cancer space, with an eye toward identifying underlying genomic drivers, including NTRK gene fusions, within patients’ tumors. South San Francisco-based Veracyte offers the Afirma Genomic Sequencing Classifier (GSC) and Xpression Atlas (XA), which aims to help physicians in terms of thyroid cancer diagnosis and individualized care.