Roche (RHHBY) Guns For DNA Sequencing Technology In $350 Million Buyout Deal For Genia Technologies
6/2/2014 6:57:43 AM
Roche acquires Genia Technologies to strengthen next generation sequencing pipeline
Basel, 2 June 2014 -- Roche (SIX: RO, ROG; OTCQX: RHHBY) announced today the acquisition of Genia Technologies, Inc. (Genia), a privately held company, based in Mountain View, California, USA. Genia is developing a single-molecule, semiconductor based, DNA sequencing platform using nanopore technology. Under the terms of the agreement, Roche will pay Genia’s shareholders USD 125 million in cash. In addition to this payment from Roche, Genia’s shareholders may receive up to USD 225 million in contingent payments depending on the achievement of certain milestones. Genia’s proprietary technology is expected to reduce the price of sequencing while increasing speed and sensitivity.
“The acquisition of Genia is a further step for Roche to introduce a potentially disruptive technology to the market,” said Roland Diggelmann, COO of Roche Diagnostics. “The addition of Genia’s single molecule semiconductor DNA sequencing platform using nanopore technology strengthens our next generation sequencing pipeline.”
“We are very excited about continuing our successful development as part of the Roche Group and bringing our technology to researchers on a global scale,” said Stefan Roever, CEO of Genia.
Once the transaction is complete, Genia will be integrated into Roche Sequencing Unit and will continue to focus on the development of this innovative system.
About Genia Technologies
Genia Technologies, Inc. is a privately held company located in Mountain View, CA. Founded in March 2009, Genia is developing a potentially disruptive next generation sequencing technology with integrated circuits enabling massively parallel, single-molecule DNA sequencing. Its versatile nanopore-based platform allows for single molecule, electrical real-time analysis without the need for complicated optics, labels, amplification, or fluidics. The heart of Genia’s technology is a semiconductor integrated circuit where an automated assembly of nanopores in a lipid bilayer allows for the measurement of single molecules. Genia’s sensor technology and its proprietary NanoTag chemistry enables accurate base calls, overcoming many of the limitations faced by other nanopore-based sequencing efforts.
Headquartered in Basel, Switzerland, Roche is a leader in research-focused healthcare with combined strengths in pharmaceuticals and diagnostics. Roche is the world’s largest biotech company, with truly differentiated medicines in oncology, immunology, infectious diseases, ophthalmology and neuroscience. Roche is also the world leader in in vitro diagnostics and tissue-based cancer diagnostics, and a frontrunner in diabetes management. Roche’s personalised healthcare strategy aims at providing medicines and diagnostics that enable tangible improvements in the health, quality of life and survival of patients. Founded in 1896, Roche has been making important contributions to global health for more than a century. Twenty-four medicines developed by Roche are included in the World Health Organisation Model Lists of Essential Medicines, among them life-saving antibiotics, antimalarials and chemotherapy.
In 2013 the Roche Group employed over 85,000 people worldwide, invested 8.7 billion Swiss francs in R&D and posted sales of 46.8 billion Swiss francs. Genentech, in the United States, is a wholly owned member of the Roche Group. Roche is the majority shareholder in Chugai Pharmaceutical, Japan. For more information, please visit www.roche.com.
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