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Option Deal Structure Works For Myriad As It Moves To Buy Crescendo

This article was originally published in The Gray Sheet

Executive Summary

Having watched Crescendo Bioscience gain a foothold in the market for inflammatory and autoimmune diagnostics, Myriad Genetics is now moving to acquire the company – a right it obtained via a novel strategic investment agreement in 2011.

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Myriad Genetics' M&A Buys Into Protein-Based Testing

Oncology oriented Myriad Genetics is investing $25 million in Crescendo Bioscience, a developer of molecular diagnostics for inflammatory disorders. The deal aims at more than a financial return: it includes a 3-year option to acquire Crescendo. That would strengthen Myriad's protein-based test development capabilities. Adding Crescendo to the fold would be consistent with Myriad's focus on service-based offerings -- often a predicate for success in commercializing high-value diagnostics.

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