Nano Dimension plans merger with Infinite Epigenetics in $890M deal
Nano Dimension, headquartered in Waltham, Massachusetts, USA, has entered into a non-binding term sheet for a proposed business combination with Infinite Epigenetics valued at $890 million. If completed, the combined company is expected to operate under the Infinite Epigenetics name and continue trading on the Nasdaq Capital Market under the proposed ticker symbol IEAI.
Infinite Epigenetics is a healthcare diagnostics company developing an artificial intelligence (AI)-based platform focused on epigenetic analysis. The proposed transaction would combine Nano’s public market platform and cash resources with Infinite Epigenetics’ biological data and AI technologies.
Infinite Epigenetics focuses on analysing epigenetic signals, which influence gene expression without altering the underlying DNA sequence. The company states that its proprietary biological AI model can analyse more than one million epigenetic signals from a single test to support disease detection and health assessment.
The company was co-founded by Dr Matthew Dawson, Dr Michael Mallin and entrepreneur Brad Keywell, an early investor and board member of Tempus AI. Infinite Epigenetics combines the activities of TruDiagnostic, a CLIA-certified laboratory established in 2019, and Tally Health, a consumer-focused longevity and preventative healthcare business founded in 2021.
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Through these companies, Infinite Epigenetics reports that it has processed more than 120,000 epigenetic samples since 2020 and developed a proprietary DNA methylation dataset. The company also reportedly maintains research collaborations with institutions including Harvard, Yale, Duke and Stanford universities.
David Stehlin, Chief Executive Officer of Nano Dimension, stated, “Infinite Epigenetics represented the most attractive opportunity for us to enhance shareholder value. Together with our financial advisor, Houlihan Lokey, we conducted a thorough review of approximately twenty potential opportunities across multiple sectors over many months.”
Stehlin added that Nano Dimension believes Infinite Epigenetics has the potential to establish a significant position in the healthcare AI sector through its combination of biological data, diagnostics and machine learning technologies. According to Nano Dimension, the proposed transaction would provide its shareholders with exposure to the healthcare diagnostics market while giving Infinite Epigenetics access to public market resources intended to support future growth.
Under the proposed terms, Nano Dimension would acquire 100% of Infinite Epigenetics through a merger, consolidation or another mutually agreed transaction structure. The parties have entered into a thirty-day exclusivity period during which Nano Dimension will conduct confirmatory due diligence and both companies will negotiate a definitive merger agreement.
No assurance has been provided that a definitive agreement will be reached or that the proposed transaction will ultimately be completed.
