CD&R, Merck GHI and McKesson Ventures put money into revolutionary oncology knowledge and computing firm M2GEN



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03/17/2021

TAMPA, Florida and NEW YORK, March 17, 2021 / PRNewswire / – M2GEN in the present day introduced a major new funding from the Clayton, Dubilier & Rice (“CD&R”) funds, the Merck International Well being Innovation Fund (“Merck GHI”) and McKesson Ventures to recapitalize M2GEN, one of many principal knowledge in oncology and an IT platform centered on remodeling most cancers care, in partnership with its current shareholders. Monetary phrases of the transaction, which closed in the present day, weren’t disclosed.

Merck GHI and McKesson Ventures have invested alongside CD&R funds, which are actually collectively the biggest shareholder within the firm. Present shareholders Moffitt Most cancers Middle, Hearst Healthcare and The Ohio State College The Basis continues to carry a major minority stake in M2GEN. The proceeds from the transaction are anticipated to speed up the expansion of M2GEN’s consented and linked medical and genomic knowledge asset and advance the corporate’s technological and computing capabilities. Together with the recapitalization, Sandra E. Peterson, CD&R Working Associate and former Group Worldwide Chairman of Johnson & Johnson, has assumed the position of Chairman of the Board of M2GEN.

Together with the transaction, M2GEN will strengthen its present administration crew led by the President and CEO Helge bastian, Ph.D., with two hires of skilled executives: Todd johnson, MD, most not too long ago Senior Vice President of the Life Sciences Commercialization and Medical Analysis Teams at Optum, as Chief Development Officer, and Wilf russell, a seasoned expertise chief with expertise from corporations equivalent to Volvo, Nike and Microsoft, as Chief Expertise Officer.

M2GEN conducts one of many largest observational most cancers analysis research on this planet, which follows sufferers all through their lives, connects longitudinal medical knowledge with molecular info, and permits a deeper understanding of a affected person’s illness. . M2GEN has established one of many largest and most complete linked medical and genomic databases within the nation, enabling revolutionary and collaborative most cancers analysis and supporting the event of latest oncology medication by its biopharmaceutical companions.

M2GEN’s knowledge platform consists of greater than 300,000 sufferers by means of its alliance of main most cancers analysis facilities, generally known as the Oncology Analysis Info Change Community® (ORIEN®). ORIEN members profit from collaborative analysis and knowledge sharing; M2GEN’s biopharmaceutical companions profit from entry to the community and to a set of information that helps the design of medical trials, the recruitment of sufferers and the event of latest therapies; and the last word beneficiaries are the sufferers, as this course of informs new drug remedy choices.

“M2GEN is goal-oriented and patient-driven, and we consider it’ll influence healthcare for the following era by connecting sufferers, suppliers, researchers and pharmaceutical R&D to basically change the best way the most cancers is studied and handled, “mentioned Sarah kim, CD&R Associate. “CD&R has spent a major period of time assessing the actual world knowledge market inside pharma companies and sees an amazing alternative to accomplice with an distinctive shareholder group to help M2GEN’s subsequent section of progress, drive the ‘operational excellence and pursue its mission of connecting sufferers to a remedy by accelerating the invention, improvement and supply of extra personalised therapies. ”

“Merck GHI has adopted M2GEN carefully for a few years by means of collaborations from our analysis colleagues, first with Moffitt Most cancers Middle, then with Moffitt’s M2GEN spin-out,” mentioned David M. Rubin, Ph.D., Managing Director, Merck GHI. “This syndicated funding will help the constructing of large-scale assets which have the potential to allow the event of latest medication and precision most cancers care.”

“McKesson Ventures is proud to help M2GEN’s main and complete linked medical and genomic knowledge platform. Our funding instantly displays McKesson’s broader dedication to advancing and enhancing neighborhood oncology care by means of the US Oncology Community and Ontada, our revolutionary oncology expertise and data firm, ”mentioned Dave schulte, Senior Vice-President and Basic Supervisor, McKesson Ventures.

Ropes & Grey LLP acted as authorized counsel to CD&R in reference to the transaction. Perella Weinberg Companions LP acted as unique monetary advisor and Shumaker, Loop & Kendrick, LLP acted as authorized advisor to M2GEN. Inexperienced Shoots Consulting, LLC acted as advisor and McDermott Will & Emery LLP acted as authorized counsel to Merck GHI.

About M2GEN

M2GEN is an oncology-focused healthcare IT options firm that leverages medical and molecular knowledge to speed up the invention, improvement and supply of personalised therapies. Based in 2006 with the mission of enabling a collaborative strategy to the combat in opposition to most cancers, M2GEN facilitates the oncology analysis info change community® (ORIEN®), an alliance of main most cancers facilities collaborating within the IRB-approved, HIPAA-compliant protocol, Whole Most cancers Care®, for gathering depersonalized medical and genomic knowledge on sufferers for analysis functions. M2GEN at present has over 300,000 whole consenting sufferers in a community of 18 most cancers facilities in 10 states. Study extra about www.m2gen.com.

About Clayton, Dubilier & Rice

Clayton, Dubilier & Rice is a personal funding agency whose technique is to construct stronger, extra worthwhile companies. Since its inception, CD&R has managed the funding of over $ 30 billion in 98 corporations with an total transaction worth higher than 150 billion {dollars}. CD&R has constructed an intensive community within the biopharmaceutical market and has intensive expertise with data-driven enterprise fashions. Current investments embrace Huntsworth (acquired in 2020), a number one supplier of specialty companies to pharmaceutical and biotech corporations; Huntsworth’s December 2020 acquisition of Nucleus to create a world chief in pharmaceutical advertising; naviHealth (owned 2018-2020), which leverages knowledge to enhance healthcare outcomes; and Covetrus (acquired in 2015), an built-in multi-channel supplier of pharmaceutical, prescription administration and knowledge evaluation companies for the animal well being sector. The agency has places of work in new York and London. For extra info, please go to www.cdr-inc.com.

Concerning the Merck International Well being Innovation Fund

Merck International Well being Innovation Fund (Merck GHI) evolves enterprise capital for healthcare corporations globally utilizing its healthcare ecosystem technique. This funding technique connects revolutionary corporations with complementary applied sciences to develop built-in well being options. Merck GHI has $ 500 million below administration and supplies progress capital to rising healthcare expertise corporations around the globe whereas leveraging Merck’s huge international R&D-based assets. With the imaginative and prescient that knowledge would be the forex within the healthcare trade. healthcare, Merck GHI is investing closely in digital healthcare. Merck GHI invests in platform corporations with confirmed applied sciences or enterprise fashions the place Merck’s experience and perception can speed up income progress and improve worth creation. For the reason that finish of 2010, Merck GHI has made greater than 50 investments in digital well being corporations. www.merckghifund.com

About McKesson Ventures

McKesson Ventures is a strategic enterprise capital agency backed by McKesson Company that focuses on early stage and rising digital healthcare and healthcare corporations. McKesson Ventures targets corporations that each catalyze and profit from the important thing modifications happening within the healthcare panorama in america. McKesson Company is a healthcare companies and data options firm devoted to enhancing the best way healthcare works. Go to www.mckessonventures.com to study extra.

Contacts
For M2GEN:
Courtney winstead
407-488-8202
[email protected]

For CD&R:
Dan Jacobs
212-407-5218
[email protected]

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