February 10, 2021 -- Artificial intelligence-based genomic and data company Sema4 and acquisition firm CM Life Sciences have agreed to merge.
CM Life Sciences will be given a new name, which will be announced in the future, after the transaction closes. Currently, Sema4 has the largest, most comprehensive integrated genomic and clinical data platform, which includes more than 10 million patients' genomic profiles.
The combined company is expected to receive up to approximately $793 million at the closing of the transaction, which is expected to occur during the second quarter of 2021.
Proceeds from the acquisition will be used for operating needs and to drive other targeted growth opportunities, helping the company deliver its solutions to a larger number of healthcare providers and patients and to improve clinical outcomes across a higher volume of diseases, according to the firm.