NeoGenomics will pay $125 million in cash and distribute 1 million shares of its stock to Genoptix, a clinical oncology lab, as part of the deal.
The companion diagnostic test identifies patients taking the Novartis drug Tasigna who are candidates for treatment-free remission monitoring.
The merger, which was previously scuttled and later revived with Rosetta shareholder approval, was due to close on May 27.
Upon completion of the transaction, Rosetta will become a privately held subsidiary of Genoptix and its shares will cease to trade on the Nasdaq.
The deal comes as the firms try — for the second time — to close a merger that had previously failed to gain necessary approval from Rosetta shareholders.
Genoptix's $9 million bid for Rosetta comes just days after the companies' first merger agreement failed to secure shareholder approval.
Genoptix terminated the merger agreement after an insufficient number of Rosetta shareholders voted in favor of the deal.
Genoptix has also agreed to provide a $1.8 million secured bridge loan facility to fund Rosetta’s operations through the closing of the deal.
Researchers are refining a tool to predict a woman's risk of developing breast cancer, according to the Guardian.
According to Stat News, the partial government shutdown in the US could soon affect the ability of the Food and Drug Administration to review new drugs.
In PNAS this week: gypsy moth genome sequenced, phylogenomic analysis of Polyneopterans, and more.
CNN reports that people's genes tend to have a greater influence on their risk of developing disease than their environment, but it varies by phenotype.