Foley Hoag Represents Genuity Science in Sale to HiberCell
August 20, 2021
Foley Hoag LLP represented genomics data, analytics and insights company Genuity Science, Inc. in its sale to HiberCell, a clinical stage biotechnology company developing therapeutics to treat cancer relapse and metastasis. Together, the combined company will strategically apply artificial intelligence (AI) and machine learning (ML) to accelerate and advance fast its pipeline with a focus on overcoming the foundational barriers that prevent patients from living longer, cancer-free lives. The stock acquisition of the Genuity Science business provides HiberCell with approximately $100 million in cash, as well as existing partnership agreements with Ionis and AbbVie, whose future earnouts are expected to support HiberCell’s growth as a clinical stage biotechnology company. Under the terms of the agreement, Genuity Science Inc., and its two wholly owned subsidiaries, Genuity Science (Iceland) ehf and Genuity Sciences (Ireland) Limited, will become a wholly owned subsidiary of HiberCell.
With offices in Massachusetts and Iceland, Genuity Science, Inc. is a life science technology company that provides world-leading genomics and multi-omic analytics bolstered by an advanced AI and ML platform to illuminate the underlying cause of cancer and other diseases.
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