Roche to Acquire GeneWEAVE for Up to $425M

Home/Financial/Roche to Acquire GeneWEAVE for Up to $425M

Roche to Acquire GeneWEAVE for Up to $425M

Coverage of the latest Bay Area purchase by Roche:

Roche acquires GeneWEAVE to strengthen offerings in microbiology diagnostics (press release):
“Roche (SIX: RO, ROG; OTCQX: RHHBY) today announced that it has signed a definitive agreement to acquire GeneWEAVE BioSciences, Inc. (GeneWEAVE), a privately held company focused on innovative, clinical microbiology diagnostics solutions based in Los Gatos, CA, USA. Under the terms of the agreement, Roche will pay GeneWEAVE shareholders USD 190 million upfront and up to USD 235 million in contingent product related milestones. The transaction is subject to customary closing conditions and, once closed, GeneWEAVE will be integrated into Roche Molecular Diagnostics.” Full release

Roche bags antibiotics diagnostics tech in $425M GeneWeave buyout (FierceBiotech)
“The pharma giant has snagged GeneWeave Biosciences, which is based in Los Gatos, CA. GeneWeave developed what it calls Smarticles tech, which can analyze Gram-negative and Gram-positive bacteria and determine which antibiotic available is most likely to shut it down. That’s a particularly important tool in light of a wave of drug-resistant bacteria that’s taken a stubborn hold around the world. And GeneWeave boasts that its tech works on the spot in a matter of hours, short-circuiting the decision-making process in hospitals.” Full article

To Fight “Superbugs,” Roche Shells Out $190M For Bay Area’s GeneWEAVE (Xconomy)
“For Roche, meanwhile, (this purchase) adds a piece to its sprawling international diagnostics business, which it’s been building up via deals with companies like Foundation Medicine (NASDAQ: FMI), Bina Technologies, and Ariosa Diagnostics. And though this it’s unclear if this deal will impact Roche’s internal antibiotics development efforts as well, the company has also been particularly active on that front.” Full article

August 13th, 2015|