A roundup of exits, including IPOs and acquisitions, across the tech transfer ecosystem.
RE2, a US-based autonomous and remotely-operated mobile robotic systems developer spun out of Carnegie Mellon University, has agreed to an acquisition by industrial robotic systems producer Sarcos Technology and Robotics for a total of $100m. Sarcos will pay $30m in cash and $70m in common stock. RE2 had completed a $2.3m series A round led by Draper Triangle Ventures in August 2014, when Riverfront Ventures also invested. Kinesis Health Technologies, an Ireland-based spinout of University College Dublin that has developed a system to assess elderly people’s physical function, was acquired by digital brain health company Linus Health for an undisclosed amount yesterday. Kinesis will continue to offer its services and operate as a subsidiary of Linus Health. Kinesis had raised $655,000 from Enterprise Ireland and private investors in November 2016. Veritas Genetics, a US-based genetic testing technology developer spun out of Harvard University, has agreed to an acquisition of undisclosed size by at-home diagnostic test provider LetsGetChecked. LetsGetChecked is also buying Veritas Intercontinental which was spun off in 2018 to focus on markets outside the US. The transaction is expected to close in the first fiscal quarter of 2022, the press release said, but the specific dates of this could not be ascertained. Veritas last raised money in 2016, obtaining $30m in series B financing. – Additional reporting by Fernando Moncada Rivera