The proteomics firm is expected to receive $350 million in proceeds through the deal, including a $200 million private investment in public equity (PIPE) transaction.
While the tests from Clinomics, UPenn, and Inno Diagnostics detect the SARS-CoV-2 virus, Princeton BioMeditech's test differentiates between SARS-CoV-2 and influenza.
The study, which included more than 6,000 individuals and 59 facial measurements, uncovered a number of novel genetic loci associated with facial traits.
By sequencing DNA from 14 feces-containing sediment samples from Spain, investigators found commensal microbes that appear to have lived in Neanderthal guts.
The firm will use the net proceeds for its planned $600 million acquisition of Decipher Biosciences, working capital, and other general corporate purposes.
In an SEC filing, the firm said it intends to use the IPO proceeds to support manufacturing and establish a sales and marketing team, among other activities.
The firm reported $28.2 million in revenues for the three months ended Dec. 31, 2020, beating consensus Wall Street estimates on the top and bottom lines.
Upon completion of the merger, which will value 23andMe at $3.5 billion, Virgin Group Acquisition Corp. will change its New York Stock Exchange ticker symbol to ME.
The Belgian Society of Medical Oncology has partnered with Illumina, OncoDNA, and PierianDx for this study, which will enroll 864 patients with advanced metastatic cancer.
