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- Decipher Biosciences
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 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
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
Website
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.
| Acquirer | Date | Type | Price | EV/Revenue |
|---|---|---|---|---|
| 3 Feb 2021 | Strategic M&A | $600M | 15.2x |
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
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Mar 2019 | Series A | CRG (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 2019 | Series A | - | $13M | Decipher 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 2018 | Series A | Merck 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 2017 | Series A | Aeris Capital | $6M | - |
| Mar 2016 | Series C | M 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
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Lead | Apr 2018 | ||
| 2 | Lead | Jun 2017 | ||
| 2 | Lead | Apr 2018 | ||
| 2 | Lead | Apr 2018 | ||
| 2 | Lead | Apr 2018 | ||
| 2 | Lead | Apr 2018 | ||
| 1 | Lead | Mar 2016 | ||
| 1 | Lead | Mar 2019 | ||
This data is available for Pro users. Sign up to see all 10 Decipher Biosciences investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialDecipher 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.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $573M | - | ||
| Private | - | - | $565M | - | ||
| Private | - | - | $525M | - | ||
| Publicly listed | $160M | ($153M) | $429M | 5.6x | ||
| Private | - | - | $413M | - | ||
| Publicly listed | $245M | $48M | $1.4B | 4.1x |
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 FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $323M | ($77M) | 1.1x | 1.1x | (4.5x) | (6.2x) | |||
| $51M | ($21M) | 14.2x | - | (34.0x) | - | |||
| $19M | ($47M) | 32.8x | 20.2x | (13.0x) | (18.4x) | |||
| $75M | ($98M) | 9.9x | 7.9x | (7.7x) | 52.1x | |||
| $152K | ($38M) | 3242.0x | 184.3x | (13.0x) | (14.4x) | |||
| $77M | ($65M) | 8.8x | 7.5x | (10.4x) | (18.8x) | |||
| - | ($315M) | - | - | (0.6x) | (0.5x) | |||
| $160M | ($153M) | 5.6x | 5.6x | (5.9x) | (6.9x) | |||
This data is available for Pro users. Sign up to see all Decipher Biosciences competitors and their valuation data. Start Free Trial | ||||||||
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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