Roche to Buy PathAI for Up to $1.05 Billion to Bolster AI Diagnostics Tools
The pharma giant has agreed to pay $750 million upfront, with up to $300 million in additional payments subject to targets
Roche Holding ROP 1.07%increase; green up pointing triangle said it agreed to buy PathAI for up to $1.05 billion in a deal that seeks to bolster the artificial-intelligence offerings of its diagnostics division.
The Swiss pharmaceutical group said Thursday that the acquisition of U.S.-based PathAI would build on a partnership between the two companies formed in 2021 and take in-house an AI platform that aims to facilitate diagnostic workflows and help accelerate clinical-therapy development.
Under the deal, Roche agreed to pay $750 million upfront, with up to $300 million in additional payments subject to targets, it said. The deal is expected to close in the second half of the year.
Roche said that it intends to scale globally PathAI’s technology for pathology laboratories and the biopharma industry. The company expects to combine PathAI’s offerings with its own in order to drive laboratory efficiency and foster the discovery of potential drug targets and new diagnostic tools.