Sema4, a patient-centered healthcare data analytics company, announced the completion of its business combination with CM Life Sciences, a special purpose acquisition company (SPAC) sponsored by affiliates of Casdin Capital and Corvex Management.
According to Sema4, its genomic and clinical data insight platform facilitates the healthcare providers to understand how the disease is diagnosed, treated, and prevented. Sema4’s database includes more than 10 million patient genomic profiles and de-identified clinical records, integrated and delivered in a way that enables physicians to diagnose and manage the disease proactively.
Business combination expected to result in ~$500 million in cash proceeds to Sema4. Sema4 intends to use the influx of capital – in cash proceeds – to support its organic operating needs and capitalize on inorganic opportunities to accelerate growth by acquiring complementary businesses.
The combined company, Sema4 Holdings, will commence trading of its shares of common stock and warrants on the Nasdaq Global Select Market under the ticker symbols “SMFR” and “SMFRW.”
“The completion of our merger with CM Life Sciences, and being listed on Nasdaq as a publicly traded company, is a major milestone for Sema4 and our employees, partners, and patients,” said Eric Schadt, Ph.D., Founder and Chief Executive Officer of Sema4.
“With the capital raised from this successful transaction, we are well-positioned to help further close the gap between the practice of medicine and the availability of more clinically actionable guidance in order to improve the standard of care. We look forward to continuing to develop and scale our innovative health intelligence platform to enable health systems in delivering precision medicine as the standard of care.”
Goldman Sachs and J.P. Morgan Securities served as financial advisors to Sema4. Fenwick & West served as legal advisor to Sema4.
Jefferies acted as a sole financial advisor, lead capital markets advisor, and exclusive placement agent to CM Life Sciences, with Cowen and Company acting as a capital markets advisor. White & Case served as legal advisor to CM Life Sciences.
Recently, Owlet Baby Care, a maker of smart wearable sock that monitors baby’s skin temperature, oxygen levels, and heart rate during sleep and sends relevant data to a companion app, announced that it had completed its business combination with a special purpose acquisition company Sandbridge Acquisition Corporation.
In the first half of 2021, a total of 12 digital health companies have gone public (2 SPACs and 10 IPOs).