On August 7, 2020, Yourgene Health closed the acquisition of Coastal Genomics for a purchase price of up to CAD$17.9 million. Yourgene paid Coastal Genomics an initial consideration of CAD$4 million in cash and CAD$3.3 million in Yourgene equity. The purchase agreement also provides for up to CAD$10.6 million in additional cash and equity consideration to the Coastal Genomics shareholders over the next three years, contingent upon Coastal Genomics’ achievement of various strategic and financial objectives. The acquisition will allow Yourgene to extend its offering and intellectual property profile in the DNA sample preparation sector.
Founded in 2012 in Burnaby, British Columbia, Coastal Genomics is a DNA sample preparation company that develops technologies for the life sciences automation sector. In April 2020, Coastal Genomics was named to the Rocket Builders 2020 list of ‘Emerging Rockets” in the life sciences category.
Yourgene Health is an international, AIM-listed molecular diagnostics group headquartered in Manchester, UK that develops and commercializes genetic products and services.
Osler, Hoskin & Harcourt LLP advised Coastal Genomics with a team consisting of Mark Longo, Jacques Du Plessis (Emerging and High Growth Companies), Ian Morrison (Corporate), Dov Begun (Taxation) and Shaun Parker (Employment).