Source BioScience acquires Oxford Gene Technology sequencing business

Source BioScience has announced the acquisition of the next-generation sequencing services business from established collaborative partner Oxford Gene Technology.

The company has been making significant investment in its genomics and next-generation sequencing capabilities over a number of years, and worked together with Oxford Gene Technology on a number of projects.

Oxford Gene Technology has chosen to divest the business after seeing significant growth in its genomics products portfolio, leading it to refocus its strategy to fuel further growth in the products business.

The companies will work together to ensure a smooth transition, with Oxford Gene Technology's analysis software to be licensed to Source BioScience as part of the transfer.

Dr Nick Ash, chief executive officer of Source BioScience, said: "This most recent collaboration will enable customers to benefit from cutting-edge laboratory services from Source BioScience in conjunction with Oxford Gene Technology's leading analysis software."

This comes after the firm conditionally agreed to acquire Select Pharma Laboratories last month in a deal worth up to 7.3 million pounds.