GE Healthcare Buys Molecular Imaging Agent Producer Zionexa

General Electric (NYSE: GE), through its $18b healthcare business GE Healthcare, has acquired France-based Zionexa, the developer of a positron emission tomography (PET) imaging agent, Cerianna, used as an adjunct to biopsy for the detection of estrogen receptor (ER) positive lesions in recurrent or metastatic breast cancer care.  Cerianna was FDA-approved in mid-2020 and commercialized in December 2020.  ~168,000 people have metastatic breast cancer (Stage 4) in the U.S., with a five-year survival rate of 28%.  Cerianna is accessible to approximately 25% of the relevant patient population.  GE Healthcare intends on scaling Cerianna to be accessible to 75% of patients by 2023.  Zionexa was formed in just 2018 and also has a pipeline of biomarkers for other oncologic and neurologic diseases.  The addition complements GE's portfolio of MRI, X-ray/CT, ultrasound and nuclear medicine imaging machines.  Terms not announced.

Keywords: Healthcare Investment Banking, Healthcare M&A, Healthcare Mergers, Medical Devices, Imaging