C2i Genomics

The founders and the business before the acquisition

C2i Genomics was founded in 2019, according to Calcalist. The list of founders on Crunchbase includes Asaf Zviran, Boris Oklander, Dan Landau and Ezra Sofer. The company developed services based on blood tests and the analysis of genetic information, aimed at diagnostic organizations and pharmaceutical companies. A Veracyte report describes it before the acquisition as a private company that developed a method for assessing tumor burden and monitoring disease progression or recurrence. The company's headquarters were in New York, according to TechCrunch, and Calcalist covered it as an Israeli company.

What information is tested in the blood

The technology analyzes sequences of cell-free genetic material found in the blood and uses whole-genome sequencing. According to Veracyte, the platform is based on artificial intelligence for detecting minimal residual disease. It is an attempt to detect information related to the tumor even when there is very little of it, and to support monitoring after treatment. The official report explains that the system looks at subtle changes in the patterns of the tumor's genetic material in order to track progression and recurrence. This is a test of molecular sequences and patterns, not an image of cells.

What the buyer planned to do with the technology

In the announcement of the deal's completion, Veracyte said the technology would expand its diagnostics platform to treatment monitoring and tests for disease recurrence. The first application it planned was a residual disease test in muscle-invasive bladder cancer. It explained that it intended to rely on its existing urology business channel, and later to develop tests for additional indications. In May 2026 Veracyte announced that the TrueMRD test, a residual disease test based on whole-genome sequencing, had received Medicare coverage for monitoring the recurrence of muscle-invasive bladder cancer, and that its launch was set for 1 June 2026.

Announcement, closing and payment in shares

The acquisition deal was announced in January 2024. Veracyte's report states that it acquired all rights in the company on 5 February 2024. The completion announcement was published on 6 February. That announcement gave base consideration of $70 million, subject to adjustments, paid in Veracyte shares. Up to $25 million more was promised, in shares or cash at the buyer's choice, subject to future milestones. So the headline about a deal of up to $95 million is not the same as a $95 million cash payment at closing. The completion announcement listed about 2.7 million shares as part of the base consideration. The milestones for the additional payment were set for a period of two years after closing.

What the financial figures do say

Calcalist reported when the deal was announced in January 2024 that the company had raised about $112 million by then, from investors including Casdin Capital and NFX. Historical funding is money invested in the business, while the acquisition price describes a deal over ownership. The annual report lists an accounting value of the shares and other consideration components at the closing date, so it is not identical to the wording of the headline in the announcement. The acquisition was completed, and Veracyte is the parent company. No publication was found about payment of the contingent consideration.