Roche Bets $1.7B More on Precision Oncology With Ignyta Deal

Roche bets

In a buyout that marks the latest endorsement for targeted cancer drugs—and, potentially, the increasing utility of broad cancer DNA tests—Roche this morning agreed to acquire San Diego biotech Ignyta in an all-cash deal valued at $1.7 billion.

Roche will pay $27 per share for Ignyta (NASDAQ: RXDX), a whopping 74 percent premium to the firm’s $15.55 per share closing price on Thursday. The deal has already been approved by both boards, and is expected to close in the first half of 2018. It gives Roche rights to a drug, entrectinib, currently in pivotal testing for cancers that contain specific types of genetic mutations—NTRK or ROS1 fusions.

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