Switzerland’s Roche has entered into an agreement to acquire US-based in vitro diagnostics firm GeneWEAVE BioSciences for around $425m.
Under the deal, GeneWEAVE shareholders will receive $190m upfront payment, in addition to around $235m in contingent product related milestones.
Roche Diagnostics COO Roland Diggelmann said: "With GeneWEAVE, we further strengthen our microbiology diagnostics offerings with cutting-edge technology that will aid in the fight against drug-resistant bacteria.
The acquired business adds Roche with Smarticles technology, which is claimed to be an innovative class of molecular diagnostics that rapidly identifies multidrug-resistant organisms (MDROs).
It also evaluates antibiotic susceptibility directly from clinical samples, without taking the help of traditional enrichment, culture or sample preparation processes.
GeneWEAVE is also developing its first system vivoDx, a fully automated and random-access system that is designed to address MDRO detection and antibiotic therapy guidance in the laboratories.
The deal is subject to customary closing conditions and once it concludes, GeneWEAVE will be incorporated into Roche Molecular Diagnostics.
Image: The administration and R&D buildings, Roche Diagnostics, Rotkreuz. Photo: courtesy of F. Hoffmann-La Roche Ltd.