Pharma BD Deal Intelligence
ProPhase Labs (Nasdaq: PRPH) acquired whole-genome-sequencing direct-to-consumer company Nebula Genomics, announced and closed August 11, 2021, for consideration of $7.3M cash plus $7.3M in ProPhase stock (Nebula became a wholly owned subsidiary). The acquisition added consumer whole-genome sequencing (later marketed as DNA Complete) to ProPhase's diagnostics/genomics push alongside its COVID-19 testing business. Post-close (FY2025), ProPhase restructured the asset: it shut its genomics laboratory in February 2025, ran a strategic-alternatives/sale process for Nebula, and deconsolidated the business -- recognizing a $43.491M 'Investment in unconsolidated affiliates' on the December 31, 2025 balance sheet (deconsolidation of ~$16.0M of subsidiary assets and liabilities). Management reported Nebula/DNA Complete operating profitably on a standalone basis at year-end 2025.