Norway-listed Photocure, a commercial diagnostic company committed to driving progress in uro-oncology precision diagnostics, has acquired Vesica Health, a US-based precision diagnostics company advancing AssureMDx, a urine-based molecular test for the early detection of bladder cancer, for US$30.5m in cash and stock.
The deal expands Photocure’s position across the bladder cancer care continuum.
“This transaction represents a significant step forward in our strategy to build a comprehensive bladder cancer platform,” said Dan Schneider, CEO of Photocure. “By combining Vesica Health’s best-in-class hematuria early detection capabilities with our established diagnostic solution and commercial infrastructure, we are well positioned to accelerate growth and deliver improved outcomes for patients with urological cancers.”
DNB Carnegie acted as financial adviser. Morgan, Lewis & Bockius is US legal adviser and Advokatfirmaet Selmer is Norwegian legal adviser to Photocure.
Press release: Photocure ASA to Acquire Vesica Health Inc., Strengthening Leadership in Bladder Cancer Diagnostics
