Assurex Health To Be Acquired By Myriad Genetics

We are excited to share the news that Assurex Health, one of our very first portfolio companies, has been acquired by Myriad Genetics (NASDAQ: MYGN) in a deal worth up to $410M.  The deal is expected to finalize in the next couple of months.  

Announcements from both companies came after market closing on August 3.

“Myriad Genetics

(NASDAQ: MYGN), a leader in molecular diagnostics and personalized medicine, today announced that it has signed a definitive agreement to acquire Assurex Health, the world leader in genetic testing for psychotropic medicine selection, for $225 million upfront with the potential for $185 million in additional performance-based milestones.”

Read the rest of the announcement from Myriad Genetics here.

"Assurex Health...said that its headquarters will remain in Mason, Ohio"

Read the rest of the announcement from Assurex Health here.

This news represents a great success for a local company built from scratch, and the entire community of investors, institutions and municipalities that have enabled it to grow.

First, it validates the importance and impact of the GeneSight® test to patients and the health care system.  It is a testament to Assurex health employees, who have helped to build a startup that began in a garage, into a world leader.  Their commitment has impacted the lives of hundreds of thousands of patients and families, and Myriad Genetics will amplify that reach.

It recognizes the world class intellectual contributions of researchers at Cincinnati Children’s Hospital Medical Center, and their mission to bring a growing pipeline of innovation from bench to bedside.

It validates the work we do at CincyTech and the essential role of Ohio Third Frontier; both are anchored in the belief that promising technology and life science opportunities exist-- and can thrive-- in Ohio when given access to capital and talent.  A strong SW Ohio investor base and the talents of many, including John McIlwraith (Allos), Jack Kraeutler (Meridian Bioscience), Rich Kiley, and David Willbrand (Thompson Hine) proved indispensable throughout the company's development and growth.

Finally, this news speaks to the innovative thinkers at JobsOhio and the City of Mason.  We expect Myriad will find southwest Ohio a great place to do business.