This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Roche Inks Deal for Genia Technologies

NEW YORK (The Deal) -- Switzerland's Roche Holding on Monday agreed to buy Genia Technologies in hopes the target's genetic sequencing technology may dramatically lower the price of identifying DNA while speeding sequencing.

Roche, of Basel, said it would pay $125 million up front and as much as an additional $225 million depending on how Genia's chip-based technology develops.

"The acquisition of Genia is a further step for Roche to introduce a potentially disruptive technology to the market. The addition of Genia's single molecule semiconductor DNA sequencing platform using nanopore technology strengthens our next generation sequencing pipeline," said Roland Diggelmann, chief operating officer of Roche Diagnostics, in a statement.

Genia was founded in 2009 and is working to develop a handheld gene sequencer that will allow doctors to swiftly identify DNA. One potential use could be to quickly identify a malady affecting a patient by its DNA. Once correctly diagnosed, doctors can better treat the illness.

After its founding, the target, based in Mountain View, Calif., has had just one fundraising. It reportedly brought in $10 million two years ago from Life Technologies, which was acquired by Thermo Fisher Scientific (TMO - Get Report) early this year.

Genia, together with Harvard and Columbia universities, last September also won a $5.25 million research grant to help develop the technology.

It's the second sequencing-related deal this year for Roche. In February it entered a licensing agreement for detecting multi-drug resistant gram-negative bacteria using British biotech Discuva Ltd.'s discovery and development platform. Cambridge, England-based Discuva will get a $16 million upfront payment from the Swiss drugs giant.

In that deal, Roche also agreed to cover research fees and milestones for multiple programs of up to $175 million per product. The platform uses an advanced, next-generation sequencing and bioinformatics technology that leverages unique bacterial transposon libraries.

Roche shares gained 1.6%, or Sfr4.20, to Sfr267.70 ($298.34) in afternoon Zurich trading.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
TMO $145.14 0.41%
AAPL $93.24 -0.41%
FB $117.81 -0.21%
GOOG $701.43 0.82%
TSLA $211.53 -4.96%


Chart of I:DJI
DOW 17,660.71 +9.45 0.05%
S&P 500 2,050.63 -0.49 -0.02%
NASDAQ 4,717.0940 -8.5450 -0.18%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs