M&As this week: NeoGenomics, Two Labs, Purdue Pharma

26th October 2018 (Last Updated October 26th, 2018 00:00)

NeoGenomics has signed an agreement to acquire Genoptix for a cash consideration of $125m in addition to one million NeoGenomics common stock shares

NeoGenomics has signed an agreement to buy Genoptix for $125m plus one million NeoGenomics common stock shares.

Genoptix is a cancer testing laboratory providing haematology and solid tumour testing across the US, while NeoGenomics is a cancer diagnostics company offering innovative diagnostic, prognostic, and predictive testing services.

Both companies are based in the US.

The acquisition will enable Genoptix to strengthen and enhance its position in the oncology test market, while expanding its customer reach. It will also provide NeoGenomics with access to various distribution channels and allow the company to improve its quality of service.

Two Labs has acquired Pennside Partners for an undisclosed sum.

US-based Two Labs is a provider of product commercialisation, licensing and lifecycle services to pharmaceutical manufacturers, while Pennside Partners, also based in the US, is a consulting company providing market insights and competitive intelligence services for the pharmaceutical, biotech and medical device markets.

"The acquisition will enable Genoptix to strengthen and enhance its position in the oncology test market."

The acquisition will help the acquirer company to offer a better suite of services to its clients, while expanding its services to a wider network of companies.

Purdue Pharma has signed an agreement to buy SpineThera for an undisclosed sum.

The acquisition will provide Purdue with the rights to SpineThera’s products and technologies, including its lead product candidate SX600.

SX600 is a novel epidural micro-sphered dexamethasone injection being developed for lower back pain. A clinical programme to evaluate the safety and tolerability of the drug is expected to begin in 2019.

The acquisition will enable SpineThera to further develop SX600 as an acute and chronic pain therapy through Purdue’s financial support and pain management expertise.

Both based in the US, Purdue Pharma is a privately-held pharmaceutical company, while SpineThera is a designer and developer of sustained-release, spine-injectable drugs.