AUSTIN – Natera Inc has acquired Foresight Diagnostics, a move that expands its portfolio of tests that detect trace amounts of cancer left after treatment, in a deal worth up to $450 million.
The all-stock transaction includes a $275 million upfront payment and up to $175 million in earnouts tied to future revenue and reimbursement milestones, the companies said.
The acquisition combines Natera’s commercial scale in personalized molecular residual disease (MRD) testing with Foresight’s proprietary “phased variant” technology, which boasts high sensitivity in detecting circulating tumor DNA (ctDNA). Foresight’s platform, called PhasED-Seq, has reported detection levels below 0.1 parts per million.
“Foresight’s phased variant technology and leadership in lymphoma complement Natera’s strong capabilities in personalized MRD testing,” said Steve Chapman, chief executive officer of Natera.
The deal is strategically focused on strengthening Natera’s position in blood cancers, particularly B-cell lymphomas, which account for more than 75,000 new U.S. cases annually. Foresight’s research contributed to the recent inclusion of ctDNA MRD testing in U.S. treatment guidelines for diffuse large B-cell lymphoma.
Natera plans to integrate the phased variant technology into its flagship Signatera MRD platform for solid tumors, with a clinical launch expected in 2026. Foresight’s CLARITY assay for lymphoma will join Natera’s product portfolio and continue supporting clinical trials.
Foresight, a CLIA-registered lab founded by Stanford University physicians, will bring more than 40 scientific publications and partnerships with over 30 biopharma and academic researchers to Natera.
Gibson, Dunn & Crutcher LLP served as legal counsel to Natera. Wilson Sonsini Goodrich & Rosati was legal counsel to Foresight, with Centerview Partners LLC acting as its financial advisor.
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