April 28 Quick Takes: Quest Diagnostics buys Haystack
Plus: Zai takes global rights to MediLink’s ADC and updates from ImmunoGen and Amgen
Quest Diagnostics Inc. (NYSE:DGX) is deepening its oncology capabilities by acquiring liquid biopsy company Haystack Oncology Inc., a private company focused on highly sensitive tests for minimal residual disease. Quest is paying $300 million for Haystack, rewarding shareholders who had invested $70 million in the two-year-old Johns Hopkins University spinout; Catalio Capital Management led its $56 million series A in November 2022.
Zai Lab Ltd. (NASDAQ:ZLAB; HKEX:9688) obtained global rights to DLL3-targeting antibody-drug conjugate YL212 from Suzhou MediLink Therapeutics Ltd. The candidate, built using MediLink’s TAMLIN platform to optimize ADCs for the tumor microenvironment, joins a Zai portfolio that also includes rights in Greater China to Tivdak tisotumab vedotin-tftv from Seagen Inc. (NASDAQ:SGEN). Best known for cross-border deals that usually entail China rights, Zai is increasingly aiming to develop therapies across broader geographies, including some to which it holds worldwide rights...