Sema4, an AI-driven genomic and clinical data intelligence platform company, has acquired GeneDx Inc., a wholly owned subsidiary of OPKO Health Inc., a multinational biopharmaceutical and diagnostics company.
The deal will serve to enhance Sema4’s leadership growth and scale for its health intelligence and genomic screening offerings. GeneDx provides expertise in rare disease diagnostic and exome sequencing services. The firm provides over 300,000 clinical exomes and 2.1 million annotated phenotypes to enhances Sema4’s clinical records, health intelligence platform and Traversa, its genomic analysis platform.
Additionally, Sema4 has entered an agreement to sell $200 million in common stock to a group of investors led by Pfizer.
“This acquisition gives us the opportunity to accelerate the use of genomics as standard of care by providing a deeper menu of precision medicine solutions to our health system partners to better meet their clinical needs,” said Eric Schadt, PhD, founder and CEO of Sema4. “Adding GeneDx’s comprehensive dataset and capabilities to our offerings enables us to inform on an even broader range of diseases, further closing the gap between the practice of medicine and the availability of more clinically actionable guidance. GeneDx’s operational prowess and market-leading cost structure in exome and genome sequencing will also help accelerate our path to improved gross margins and profitability.”
Goldman Sachs & Co. LLC. acted as financial advisor and Fenwick & West LLP served as legal counsel to Sema4 on the Transaction. J.P. Morgan acted as lead financial advisor and Cowen acted as financial advisor to OPKO on the Transaction. Greenberg Traurig, P.A. served as OPKO’s legal counsel. Goldman Sachs & Co. LLC. served as lead placement agent on the private placement. Jefferies LLC, Cowen, and BTIG, LLC also served as placement agents.