Decipher Biosciences Acquisition, Valuation, Funding & Investors

Decipher Biosciences was acquired by Veracyte for $600M in February 2021, a 15.2x multiple on $40M of revenue.

Decipher Biosciences acquisition price

$600M

Acquired by Veracyte · Feb 2021

Decipher Biosciences revenue at acquisition

$40M

Last twelve months · Feb 2021

Decipher Biosciences revenue multiple at acquisition

15.2x

EV/Revenue · Feb 2021

Cumulative funding Decipher Biosciences raised

$64M

across 5 funding rounds

Decipher Biosciences Overview

About Decipher Biosciences

Decipher Biosciences is a Vancouver-based precision oncology company that develops genomic tests like Decipher Prostate and Decipher Bladder for predicting cancer aggressiveness. It maintains the GRID database containing over 70,000 whole-transcriptome profiles from patient samples. Partnerships with Veracyte and pharmaceutical firms such as Pfizer support biomarker discovery for therapies in prostate, bladder, and breast cancers. The company advances tests through clinical validation in North America and Europe.


Founded

2008

HQ

United StatesSan Diego, CA

Status

Acquired

Customer focus

B2B

Revenue model

Product sales

Revenue

$40M (Feb 2021)

Valuation

$600M (acquired Feb 2021)

Decipher Biosciences Acquisition

Decipher Biosciences was acquired by Veracyte for $600M on 3 February 2021.

The acquisition price implies a 15.2x revenue multiple on $40M of revenue.

Before the acquisition Decipher Biosciences had raised $64M across 5 funding rounds.

Decipher Biosciences acquisition details
AcquirerDateTypePriceEV/Revenue
3 Feb 2021Strategic M&A$600M15.2x

Decipher Biosciences Funding History

Decipher Biosciences has raised a total of $64M across 5 funding rounds.

Decipher Biosciences' first fundraising round was a $25M Series C in March 2016. The most recent completed round was a $13M Series A in March 2019.

Decipher Biosciences funding rounds

Decipher Biosciences funding rounds
DateStageInvestorsRaisedDeal Summary
Mar 2019Series ACRG (lead); Yonghua Capital (lead); Tekla Capital Management (lead); UnitedHealth Group Ventures (lead); Merck Global Health Innovation Fund (lead); CD-Venture (lead); EMBL Ventures (lead)$13M-
Mar 2019Series A-$13MDecipher Biosciences, formerly GenomeDx Biosciences, develops genomic diagnostics for urologic cancers including prostate and bladder tests. The company raised $20.6 million in an early 2019 funding round with investors including Merck & Co, UnitedHealth Group Ventures, Baird Capital, CD-Venture, CRG, EVP Technology Fund, Tekla Capital Management, and Yonghua International. A Series E-II round of $12.96 million occurred on April 11, 2019, with undisclosed investors. Additional prior rounds included a $40.9 million Series C in 2017 and $15.7 million Series D in 2018. Decipher was acquired by Veracyte for $600 million in February 2021.
Apr 2018Series AMerck Global Health Innovation Fund (lead); Yonghua Capital (lead); Baird Capital (lead); Tekla Capital Management (lead); Aeris Capital (lead); UnitedHealth Group Ventures (lead); CRG (lead)$6M-
Jun 2017Series AAeris Capital$6M-
Mar 2016Series CM Ventures (lead)$25M-

Who has invested in Decipher Biosciences?

10 investors have backed Decipher Biosciences across its funding rounds, including Yonghua Capital, Merck Global Health Innovation Fund, Tekla Capital Management, Aeris Capital, CRG and UnitedHealth Group Ventures.

Lead investors include CRG, Yonghua Capital, Tekla Capital Management, UnitedHealth Group Ventures, Merck Global Health Innovation Fund and 5 other investors.


Decipher Biosciences Investors

Investors in Decipher Biosciences by funding rounds participated
InvestorHQRoundsRoleFirst check
Merck Global Health Innovation FundUnited StatesWoodcliff Lake, NJ2LeadApr 2018
Aeris CapitalSwitzerlandSwitzerland2LeadJun 2017
Tekla Capital ManagementUnited StatesBoston, MA2LeadApr 2018
UnitedHealth Group VenturesUnited StatesMinneapolis, MN2LeadApr 2018
CRGUnited StatesHouston, TX2LeadApr 2018
Yonghua CapitalChinaShanghai2LeadApr 2018
M VenturesNetherlandsAmsterdam1LeadMar 2016
EMBL VenturesGermanyHeidelberg1LeadMar 2019

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Decipher Biosciences Competitors

Decipher Biosciences competitors include listed companies like Pacific Biosciences and Sansure Biotech, and private ones like GeneMind Biosciences, Inscripta, Cellanome and Clear Labs.

Public and private companies comparable to Decipher Biosciences
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
GeneMind BiosciencesChinaGuangzhouPrivate--$573M-
InscriptaUnited StatesUnited StatesPrivate--$565M-
CellanomeUnited StatesSan Francisco, CAPrivate--$525M-
Pacific BiosciencesUnited StatesUnited StatesPublicly listed$160M($153M)$429M5.6x
Clear LabsUnited StatesSan Francisco, CAPrivate--$413M-
Sansure BiotechChinaChinaPublicly listed$245M$48M$1.4B4.1x

Decipher Biosciences Public Comps

Decipher Biosciences is no longer listed, but its public comps include Fulgent Genetics, Scribe Therapeutics, OmniAb, Genfit, Avacta Group, SOPHiA Genetics, Eikon Therapeutics, Pacific Biosciences, Prenetics Global and Alpha Teknova.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Fulgent Genetics$323M($77M)1.1x1.1x(4.5x)(6.2x)
Scribe Therapeutics$51M($21M)14.2x-(34.0x)-
OmniAb$19M($47M)32.8x20.2x(13.0x)(18.4x)
Genfit$75M($98M)9.9x7.9x(7.7x)52.1x
Avacta Group$152K($38M)3242.0x184.3x(13.0x)(14.4x)
SOPHiA Genetics$77M($65M)8.8x7.5x(10.4x)(18.8x)
Eikon Therapeutics-($315M)--(0.6x)(0.5x)
Pacific Biosciences$160M($153M)5.6x5.6x(5.9x)(6.9x)

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Common questions about Decipher Biosciences

When was Decipher Biosciences founded?Decipher Biosciences was founded in 2008.
Where is Decipher Biosciences headquartered?Decipher Biosciences is headquartered in San Diego, CA, United States.
Is Decipher Biosciences publicly listed?No, Decipher Biosciences was acquired by Veracyte in February 2021.
Who acquired Decipher Biosciences?Decipher Biosciences was acquired by Veracyte in February 2021.
How much was Decipher Biosciences acquired for?Decipher Biosciences was acquired for $600M in February 2021, a 15.2x revenue multiple.
How much funding has Decipher Biosciences raised?Decipher Biosciences has raised $64M across 5 funding rounds.
What was Decipher Biosciences' last funding round?Decipher Biosciences' last funding round was a $13M Series A in March 2019, led by CRG, Yonghua Capital, Tekla Capital Management, UnitedHealth Group Ventures and 3 other investors.
Who are Decipher Biosciences' investors?Decipher Biosciences' investors include Merck Global Health Innovation Fund, Aeris Capital, Tekla Capital Management, UnitedHealth Group Ventures, CRG, Yonghua Capital, M Ventures, EMBL Ventures, CD-Venture and Baird Capital.
Which companies are comparable to Decipher Biosciences?Companies comparable to Decipher Biosciences include GeneMind Biosciences, Inscripta, Cellanome, Pacific Biosciences, Clear Labs and Sansure Biotech.

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