Sector News

Roche buys into Smarticles tech with GeneWEAVE deal

August 13, 2015
Life sciences
Roche is beefing up its microbiology offering with the purchase of US-based, privately-held in vitro diagnostics group GeneWEAVE BioSciences.
 
The move secures the Swiss drugs giant access to GeneWEAVE Smarticles technology, an innovative class of molecular diagnostics that quickly identifies multidrug-resistant organisms and assesses antibiotic susceptibility directly from clinical samples. 
 
“This technology has the potential to provide healthcare professionals access to quick and accurate diagnoses that can lead to rapid, informed treatment decisions,” said Roland Diggelmann, Roche Diagnostics’ chief operating officer.
 
Roche is paying GeneWEAVE shareholders $190 million upfront and up to $235 million in contingent product related milestones under the deal, which remains subject to all the usual closing conditions.
 
By Selina McKee
 
Source: Pharma Times

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