Castle Biosciences Closes Acquisition of Diagnostics Company AltheaDx.
MANews-(C)2009-2022
US-based medical diagnostics developer Castle Biosciences, Inc. (NASDAQ: CSTL) has closed the acquisition of molecular diagnostics company AltheaDx, Inc, Castle said.
AltheaDx is a commercial-stage molecular diagnostics company specializing in the field of pharmacogenomics testing services that are focused on mental health.
IDgenetix is its PGx test for depression, anxiety and other mental health conditions.
Under the terms of the definitive agreement, AltheaDx will become a wholly owned subsidiary of Castle Biosciences.
At closing, Castle will pay USD 65m in initial consideration to AltheaDx security holders, which will consist of USD 32.5m in cash, subject to adjustments for cash, debt, transaction expenses and working capital, and USD 32.5m in common stock of Castle.
Further, up to an additional USD 75m in cash and common stock will be payable in connection with the achievement of certain...
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