14 April 2020
(Announced 8 April 2020)
The merger of Sienna Cancer Diagnostics Ltd (“Sienna”, ASX:SDX) and BARD1 Life Sciences Limited (“BARD1”, ASX:BD1) will create a well-resourced, Australian-based cancer diagnostics company with a global presence.
The combined entity will have a deep development pipeline that seeks to aid the early and accurate diagnosis of cancer. Diagnosing cancer early and accurately is the key to improved patient outcomes by enabling earlier intervention with effective treatments.
Merger offers key benefits:
Sienna’s Chairman, Dr Geoff Cumming, said: “There is very strong logic for this merger. The combined group will have a deep pipeline of cancer diagnostic tests and an established market channel for commercialising them, providing a strong foundation for future success. The combined group will also be actively pursuing additional licensing and acquisition opportunities. The merger will ensure our shareholders benefit from the synergistic benefits that arise from a combination with BARD1. We believe that this merger represents a unique and compelling value proposition for both companies.
Sienna’s CEO & Managing Director, Carl Stubbings, said: “We are delighted to announce this merger with BARD1. The two companies have novel technology platforms that aid in the early and accurate diagnosis of a range of cancers in areas of high unmet medical need. Combining these platforms could be a real game changer in cancer diagnostics. We look forward to working with the BARD1 team to build a strong Australian-based globally focussed cancer diagnostic company.”