Natera Inc., a cell-free DNA and precision medicine company, has acquired Foresight Diagnostics, a leader in ultrasensitive molecular residual disease (MRD) detection, in an all-stock transaction consisting of a $275 million up front with an additional $175 million in earnouts tied to the achievement of revenue- and reimbursement-based milestones.

“This acquisition reinforces Natera’s position at the forefront of precision oncology,” said Steve Chapman, CEO of Natera. “Foresight’s phased variant technology and leadership in lymphoma complement Natera’s strong capabilities in personalized MRD testing, improving the value we can deliver to patients, clinicians, biopharma partners and the broader healthcare system.”

Foresight is a cancer diagnostics company and CLIA-registered laboratory. The company’s circulating tumor DNA (ctDNA)-based MRD tests leverage its patented PhasED-Seq technology, targeting phased variants. With this technology, Foresight has reported performance with LOD95 of 0.3 parts per million and detection below 0.1 ppm.

Foresight was founded by Stanford University physicians and scientists, Maximilian Diehn, M.D., Ph.D., Ash Alizadeh, M.D., Ph.D., and David Kurtz, M.D., Ph.D., together with Jake Chabon, Ph.D., Foresight’s Chief Scientific Officer and CEO.

The transaction combines Natera’s commercial and operational infrastructure for the delivery of personalized MRD testing with Foresight’s phased variant technology and leadership in lymphoma. It builds on Natera’s broad intellectual property portfolio for tumor-informed and personalized MRD products including in phased variants, and promises to accelerate MRD adoption in lymphoma and other solid tumor types.

“Foresight’s mission has always been to improve the lives of cancer patients worldwide through innovative diagnostics,” said Chabon. “As we join Natera, I’m deeply grateful to our employees, partners and investors who have helped bring us to this moment. Together, we can realize this mission on a far greater scale, accelerating the pace of discovery across both hematologic and solid tumors.”

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