Mental health-focused biotech company Mydecine has signed a letter of intent to sell subsidiary company Mindleap Health to PanGenomic Health.
PanGenomic Health will purchase Mindleap Health for approximately $3 million. Mindleap Health is an app that connects users with mental health treatment, according to a Sept. 1 Mydecine news release.
"Given the recent narrowing of Mydecine's business scope, we needed to find a group that we believe is capable of continuing the vision of Mindleap and taking it to the next level," said Josh Bartch, CEO and chair of Mydecine. "We believe the PanGenomic Group is that group. Mindleap has over 40,000 organic downloads, and we believe this app has the potential to reach millions of users."