Roche Acquires Genia Technologies For DNA Sequencing Platform
By Cyndi Root
Roche announced in a press release that it has acquired Genia Technologies, which is currently developing a DNA sequencing platform. The single-molecule, semiconductor based platform uses nanopore technology. Roche expects the technology to reduce the price of sequencing, increase speed, and increase sensitivity.
Roland Diggelmann, COO of Roche Diagnostics, said, “The acquisition of Genia is a further step for Roche to introduce a potentially disruptive technology to the market.” Stefan Roever, CEO of Genia, said, “We are very excited about continuing our successful development as part of the Roche Group and bringing our technology to researchers on a global scale.”
Roche and Genia Agreement
Under the terms of the agreement, Genia will integrate into the Roche Sequencing Unit once the transaction is complete. Roche is paying $125 million in cash to Genia shareholders. Upon reaching certain milestones, Genia shareholders may be eligible for up to $225 million.
About Genia Technologies
Genia Technologies was founded in 2009 in Mountain View, CA, close to Stanford University, and not far from San Francisco. It is a privately held company developing DNA sequencing technology. The company uses integrated circuits and a nanopore-based platform for real-time analysis of DNA. A semiconductor integrated circuit of nanopores in a lipid bilayer measures single molecules. With proprietary sensor technology and NanoTag chemistry, Genia’s platform enables accurate base calling.
Genia announced in a press release in September 2013, that it had received a $5.25 million grant — the Revolutionary Genome Sequencing Technologies grant — from the National Institutes of Health (NIH). The National Human Genome Research Institute (NHGRI) of the NIH awarded the company $5.25 million for three years. Genia is to use the funds to collaborate with researchers at Columbia and Harvard. The purpose of the investigation is to develop Genia’s nanopore-based DNA sequencing platform, NanoTag.
Roche Acquisitions
In addition to the Genia acquisition, Roche recently announced that it had acquired IQuum from Marlborough, MA. The privately held company develops molecular diagnostics. Roche gains access to IQuum’s Laboratory-in-a-tube (Liat) System, a rapid molecular diagnostic testing in a point of care setting. Roche has not announced any other acquisitions since 2011 with the acquisitions of Verum Diagnostica, MTM Laboratories, and PVT Probenverteiltechnik GmbH.