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Home Industry News Roche purchases diagnostic technology provider GeneWEAVE

Roche purchases diagnostic technology provider GeneWEAVE

13th August 2015

Roche has agreed a deal to purchase life science technology company GeneWEAVE BioSciences for an initial upfront fee of $190 million (121.86 million pounds).

GeneWEAVE is a privately-held company focused on innovative, clinical microbiology diagnostics solutions. On completion of the takeover, it will be integrated into Roche's molecular diagnostics business.

The acquisition provides Roche with access to the firm's Smarticles technology, an innovative class of molecular diagnostics that quickly identifies multidrug-resistant organisms (MDRO) and assesses antibiotic susceptibility directly from clinical samples.

Its first system in development is vivoDx, a fully-automated random-access system designed specifically for laboratories addressing MDRO detection and antibiotic therapy guidance.

Roland Diggelmann, chief operating officer of Roche Diagnostics, said: "With GeneWEAVE, we further strengthen our microbiology diagnostics offerings with cutting-edge technology that will aid in the fight against drug-resistant bacteria."

The terms of the deal also allow for the payment of up to $235 million in contingent product-related milestones.ADNFCR-8000103-ID-801797580-ADNFCR

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