Pathologists take note! Companion diagnostics is the driver in this transaction.
Genetic testing giant Myriad Genetics, Inc. (NASDAQ:MYGN) will pay $80 million to acquire Rules-Based Medicine (RBM) of Austin, Texas, a privately-held companion diagnostic company in a deal announced last week.
Myriad Genetics, best known to pathologists and clinical laboratory managers for its portfolio of predictive genetic cancer tests, believes its purchase of Rules-Based Medicine will give it a faster entre into companion diagnostics. RBM is a life sciences company that has well-established relationships with key therapeutic drug companies.