Hogan Lovells advises Myriad Genetics on the acquisition of Cologne-based Sividon Diagnostics
07 June 2016
Myriad has acquired Sividon on 31 May for €35 million upfront with the potential for €15 million in additional performance-based milestones. Sividon Diagnostics was spun out of Siemens Healthcare Diagnostics in 2010 as part of a management buyout and subsequently financed by venture capital funds and state-owned development bank KfW. Sividon's core product, the EndoPredict® test, will be the foundational product of Myriad's newly initiated kit-based strategy and allow Myriad to leverage its global oncology distribution to bring this important test to patients worldwide.
"The Sividon acquisition is a milestone for Myriad's new kit-strategy. We are happy that we could support Myriad Genetics with this strategically important and demanding legal transaction," said Dr. Heiko Tschauner.
Hogan Lovells for Myriad Genetics:
Dr. Heiko Tschauner (Partner, Finance, München);
Dr. Ingmar Dörr (Partner, Tax, München);
Peter Huber (Counsel), Florian von Kampen (Associate, Corporate/M&A, München);
Dr. Benjamin Schroeer (Counsel, IP, München).