Roche Acquires Genia Technologies for up to $350M
News Jun 02, 2014
Roche announces the acquisition of Genia Technologies, Inc., 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.