Further solidifies global leadership in differentiated, genomics-driven cancer diagnostics and expands TAM with presence in 7 of the 10 most common cancers
Tina Nova, Ph.D., named Veracyte’s general manager, urologic cancers
Veracyte, Inc. (Nasdaq: VCYT) today announced it has completed its acquisition of Decipher Biosciences, Inc. to further solidify its global leadership in genomic diagnostics, with an expanded reach into 7 of the 10 most common cancers in the United States, while accelerating revenue growth.
“Bringing Decipher into the Veracyte family marks a significant advance in achieving our vision of improving outcomes for patients all over the world at every step of their journey,” said Bonnie Anderson, Veracyte’s chairman and chief executive officer. “By combining Decipher’s leadership in urologic cancers with our broad cancer genomic testing menu and best-in-class nCounter diagnostics platform, this combination further positions us to address key unmet needs across the care continuum for patients everywhere. We are thrilled to welcome the Decipher team as we embark on an exciting journey together.”
In connection with the closing of the acquisition, Dr. Tina Nova, previously president and chief executive officer at Decipher, has been appointed general manager, urologic cancers, at Veracyte. She and her team will continue to direct the company’s San Diego operations, which include a state-of-the-art CLIA-certified and CAP-accredited laboratory.
Under the terms of the transaction, Veracyte acquired Decipher Biosciences for $600 million in cash paid to Decipher security holders and Decipher Biosciences has become a wholly-owned subsidiary of Veracyte.