Hogan Lovells advises Labcorp on US$150m acquisition of Myriad Genetics' Vectra testing business
Washington, D.C., 3 May 2021 – Global law firm Hogan Lovells is representing leading life sciences company Labcorp in the acquisition of select operating assets and intellectual property from Myriad Genetics’ autoimmune business unit, including the Vectra® rheumatoid arthritis assay, in a transaction valued at US$150 million.
Rheumatoid arthritis, an autoimmune disorder and one of the most common forms of arthritis, causes painful inflammation and tissue damage in the knees, wrists, and other joints. Vectra is a non-invasive, blood-based test that analyzes 12 biomarkers to measure rheumatoid arthritis activity, creating an easy-to-understand score indicating severity and how well current treatments are working. It also can predict potential joint damage, enabling targeted treatment and adjust existing treatments to better manage symptoms.
The transaction is expected to close by the end of Q3 2021. The Hogan Lovells team was led by New York-based M&A partner Michael Silver and Washington D.C.-based M&A partner Allen Hicks. They were supported by senior associate Matt Bowles, and associates Nick Eckstein and Monica Pyles.
Hogan Lovells has advised LabCorp for more than a decade on many of its most significant securities offerings and strategic acquisitions including acquisitions of: Envigo’s nonclinical contract research services business, Chiltern, Covance, Genzyme Genetics, Pathology Associates Medical Laboratories (PAML), Mount Sinai Health System Clinical Outreach Laboratories, Monogram Biosciences, Medtox, Liposcience and Sequenom.