Science 37 rises on go-private deal
29/01/2024 18:55
** Shares of Science 37 SNCE.O , a provider of clinical
trial services, rise 20.5% to $5.71
** Co to be taken private by telehealth and diagnostics firm
eMed
** eMed, through its unit, to buy SNCE in a deal valued at
about $38 mln for $5.75 per share in cash, representing a
premium of 21.3% to SNCE's last close
** Both parties expect the deal to be complete in the first
quarter of 2024
** eMed provides in-home testing kits and has a technology
that helps in streamlining patient enrollment process for
clinical trials called Test-to-Treat
** SNCE says eMed's Test-to-Treat technology will help
enhance co's ability to access patients and enroll them in
studies faster
** Stock fell 52% in the last 12 months
(Reporting by Sneha S K)
((Sneha.SK@thomsonreuters.com;))