Today's Transactions:
Illumina Purchases Downs Syndrome Test Maker for $350M
The target, Verinata, makes a prenatal test for high-risk pregnancies
Illumina Inc. has purchased Verinata Health Inc. for $350 million, plus up to $100 million in milestone payments.
The deal will give Illumina access to Verinata’s prenatal test, called verifi. The non-invasive prenatal test, which can detect Downs syndrome, Edwards syndrome and Patau syndrome, is for high-risk pregnancies. Illumina will also acquire Verinata’s intellectual property portfolio.
Illumina acquired BlueGnome Ltd., which provides genetic abnormality screening, in September. Roche Holding AG offered to buy Illumina in 2012 for $5.7 billion in cash, but Illumina's board of directors resisted the takeover.
Bank of America Merrill Lynch acted as financial adviser, while Jack Bodner and Scott Smith of Covington & Burling acted as legal counsel to Illumina on the deal.
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