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July 23, 2021

Sema4 debuts on Nasdaq following merger

PHOTO | CONTRIBUTED Eric Schadt
By Natalie Missakian

Stamford-based health intelligence company Sema4 made its stock market debut Friday morning after closing on its merger with special purpose acquisition company CM Life Sciences Thursday.

The rapidly growing Sema4, which also has a lab in Branford, began trading on the Nasdaq under the symbol SMFR. It opened at $11.40 a share.

Spun out of New York’s Mount Sinai Health System, Sema4 first announced its plans to go public in February in a SPAC deal that valued the company at $2 billion.

The merger gives Sema4 a $500 million cash infusion, which it plans to use to “support its organic operating needs and capitalize on inorganic opportunities to accelerate growth” through acquisitions, according to an announcement. CM Life Sciences stockholders approved the merger on Wednesday. 

“With the merger now complete, Sema4 can really step on the gas and accelerate its powerful business model,” Eli Casdin, former CEO of CM Life Sciences, said in a statement. 

Sema4, which employed 500 people in Connecticut as of February, uses artificial intelligence to build predictive models in the areas of women’s health and oncology. 

Through partnerships with health care systems, it collects de-identified genomic profiles and patient records that it analyzes through AI to help doctors diagnose and manage disease.

CEO and founder Eric Schadt and Sema4’s management team will continue to lead the combined company. 

New board members include Casdin; Emily Leproust, CEO of Twist Biosciences; Jason Ryan, most recently COO and CFO of Magenta Therapeutics; and Nat Turner, co-founder of Flatiron Health.

Contact Natalie Missakian at news@newhavenbiz.com

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