Mayo Clinic Ventures Portfolio Company Purchased In 0M Deal

Venture capital backers of the Mayo Clinic-related biotech startup, Assurex Health, were afforded a return on investment this month with its purchase by Salt Lake City-based Myriad Genetics for $225 million in upfront cash and potentially $185 million more in performance-based milestones. One of those early investors was the Mayo Clinic itself, which also has a licensing deal with Assurex for its GeneSight Psychotropic test. The technology uses a proprietary algorithm to analyze the individual genomes of mental health patients as a way to predict whether they may react adversely to psychotropic medications. GeneSight was invented in the last decade by the late Dr. David Mrazek, former chairman of the Department of Psychiatry and Psychology at the Mayo Clinic and a psychiatry professor in its College of Medicine; Dr. John L. Black,…

Link to Full Article: Mayo Clinic Ventures Portfolio Company Purchased In 0M Deal

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