The Frisco, TX-based firm has developed a web-based platform that provides healthcare systems with in-depth analyses across a range of service categories.
Janssen to expand R&D footprint in San Francisco
Johnson & Johnson (NYSE:JNJ) unit Janssen Pharmaceutical Companies announces that Janssen Research and Development, LLC plans to expand its presence in the San Francisco Bay area with a new R&D facility in the global innovation center of South San Francisco. The site should be fully operational in 2022.
OncoCyte to acquire Insight Genetics
OncoCyte (NYSEMKT:OCX) has agreed to acquire privately held Insight Genetics (IG) for $12M in cash and stock, specifically, $7M in cash and $5M in OCX common shares.
The merger agreement also provides for OCX to pay a 10-year revenue share of not more than 10% of net collected revenues for current IG pharma service offerings and a tiered revenue share percentage of net collected revenues through the end of the lifecycle if certain new cancer tests are developed using IG technology. OncoCyte may pay contingent consideration of up to $6 million, in any combination of cash or OncoCyte common shares if certain milestones are achieved.
OCX will host a conference call today at 4:30 pm ET to discuss the transaction.
Shares up 5% after hours.
AbbVie/Allergan tie-up conditionally OK’d in Europe
The European Commission has signed off on AbbVie’s (ABBV -0.3%) planned merger with Allergan (AGN +0.3%) with the proviso that Allergan sell IL-23 inhibitor brazikumab to a third party.
AbbVie planned to terminate development of brazikumab in favor of risankizumab, a move deemed anticompetitive by the EC.