Roche will pay Genia’s shareholders $125 million in cash. In addition, Genia’s shareholders may receive up to $225 million in contingent milestone payments. Genia’s proprietary technology is expected to reduce the price of sequencing while increasing speed and sensitivity.
“The acquisition of Genia is a further step for Roche to introduce a potentially disruptive technology to the market,” said Roland Diggelmann, chief operating officer of Roche Diagnostics. “The addition of Genia’s single molecule semiconductor DNA sequencing platform using nanopore technology strengthens our next generation sequencing pipeline.”
Genia will be integrated into the Roche Sequencing Unit and will continue to focus on the development of this innovative system.