Mount Sinai genomics spinout goes public under $500M merger deal

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Stamford, Conn-based Sema4, a genomics company spun out of Mount Sinai Health System, completed its merger with special purpose acquisition company CM Life Sciences, the organizations announced July 22. 

Five details: 

1. Mount Sinai spun its Genetic Testing Laboratory at the Icahn School of Medicine at Mount Sinai into Sema4 in June 2017.

2. Eric Schadt, PhD, founder and CEO of Sema4, will continue to lead the combined company, which plans to use the influx of approximately $500 million to support the growth of its genomic data platform. 

3. In June, the company named Mount Sinai Health System's Chief Data Officer Andrew Kasarskis, PhD, as its new chief data officer.  

4. Under the deal, Sema4 will become a publicly traded company and will debut on Nasdaq July 23 under the ticker symbol "SMFR." 

5. The company identifies flags in large population health datasets to help physicians make more informed decisions. It uses genetic data from nearly 10 million patient records coming from a network of health systems and providers.

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