The deal is Veracyte’s second major acquisition in cancer diagnostics in 2021 after agreeing to acquire Decipher Biosciences in March.

Six $1bn+ alliances were penned in October. Topping the list was a potential $3.6bn deal between Poseida Therapeutics and Takeda to utilize Poseida's genetic engineering platforms for the research and development of up to eight gene therapies. The collaboration will focus on non-viral in vivo gene therapy programs, including Poseida's preclinical hemophilia A program P-FVIII-101. Poseida will lead research activities up to candidate selection, after which Takeda will assume responsibility for further exclusive global development and commercialization.

In the third quarter of 2021, medical device company M&A values reached $7.1bn, while in vitro diagnostic firms and research tools players completed M&A activity that totaled $6.7bn.