Quest agreed to acquire cancer diagnostics startup Haystack Oncology while GV took part in oncology drug developer Antiva’s $53m series E round.

M&A

Medical lab operator Quest Diagnostics is acquiring Haystack Oncology, a cancer-focused blood diagnostics technology developer backed by corporates Bruker, Exact Sciences and Alexandria Real Estate Equities, for up to $450m. The deal, which is set to close in June, involves $300m in cash with the remainder dependent on Haystack’s test performance milestones. The company last raised funding in a $56m series A round in November 2022.

Funding

HPV-derived pre-cancerous lesion therapy developer Antiva Biosciences received $53m in series E funding from investors including internet technology conglomerate Alphabet’s GV unit. The round was led by MPM-BioImpact Capital and also featured Canaan Partners, Sofinnova Investments, Adjuvant Capital and Lumira Ventures.

Company Company Description Sector Country Round Round size ($m) Deal date Investors
Evommune Inflammatory disease treatment developer Healthcare US B 50 26/04/2023 Nan Fung (Pivotal BioVenture Partners); Arix Bioscience (co-lead), EQT Life Sciences (co-lead), SymBiosis (co-lead), Amplitude Ventures, Andera Partners
Kingstar Winning…

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Angela Logan

Angela Logan is news and production editor at Global Venturing.
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