Roche announces acquisition of Genia Technologies

Roche has announced the takeover of Genia Technologies, a California-based life science company, in a move that will strengthen its next-generation sequencing pipeline.

Genia is currently developing a single-molecule semiconductor-based DNA sequencing platform using nanopore technology, which will allow electrical real-time analysis to be conducted without the need for complicated optics, labels, amplification or fluidics.

The acquired company's shareholders will receive $125 million (74.69 million pounds) in cash, plus up to $225 million in contingent payments depending on the achievement of certain milestones.

Once the deal is completed, Genia will be integrated into the Roche sequencing unit and will continue to focus on the development of its innovative sequencing system.

Roland Diggelmann, chief operating officer of Roche Diagnostics, said: "The acquisition of Genia is a further step for Roche to introduce a potentially disruptive technology to the market."

This follows the company's takeover of IQuum, announced in April 2014, which was agreed to help Roche quickly enter the point of care segment of molecular diagnostics.