Roche’s $350 Million Deal for Genia

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Roche’s $350 Million Deal for Genia

From the official press release:

Roche acquires Genia Technologies to strengthen next generation sequencing pipeline
“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.”

Ron Leuty of the San Francisco Business Times has more:

Roche, the Swiss parent company of South San Francisco’s Genentech Inc., whose $6.7 billion bid was rejected two years ago by gene-sequencing equipment maker Illumina Inc., will pay $125 million upfront for Mountain View’s Genia. It will pay Genia shareholders up to $225 million if Genia’s semiconductor-based, single-molecule, nanopore technology hits certain milestones.”

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