Castle Biosciences Acquires Cernostics
October 19, 2021
Castle Biosciences (Nasdaq: CSTL) has completed the acquisition of Cernostics, Inc., a Pittsburgh-based developer of the TissueCypher spatial biology and AI-driven image analysis platform, for approximately $30 million in initial consideration plus up to $50 million in performance-based milestones. The deal brings the TissueCypher Barrett's Esophagus Assay into Castle's portfolio, expanding the company's diagnostics capabilities into the gastrointestinal and oncology markets and adding an estimated ~$1 billion to Castle's U.S. TAM.
- Buyers
- Castle Biosciences, Inc.
- Targets
- Cernostics, Inc.
- Sellers
- Cernostics security holders
- Industry
- Healthcare Services
- Location
- Pennsylvania, United States
- Transaction Type
- Buyout
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