Acquisition Roche to Finish the Gene Weave Deal
Roche now finished the acquisition of Gene Weave Biosciences. The deal should enable Roche to develope new methods to identify drug-resistant bacteria.
Basel — Roche now has signed a definitive agreement to acquire Gene Weave Biosciences, a privately held company focused on innovative, clinical microbiology diagnostics solutions based in Los Gatos, CA, USA.
Under the terms of the agreement, Roche will pay Gene Weaves shareholders USD 190 million upfront and up to USD 235 million in contingent product related milestones. The transaction is subject to customary closing conditions and, once closed, the company will be integrated into Roche Molecular Diagnostics.
The acquisition provides Roche with the Smarticles technology, an innovative class of molecular diagnostics that quickly identifies multidrug-resistant organisms (MDROs) and assesses antibiotic susceptibility directly from clinical samples, without the need for traditional enrichment, culture or sample preparation processes. Gene Weaves’s first system in development is the vivoDx—a fully automated, random-access system designed to meet the needs of laboratories addressing MDRO detection and antibiotic therapy guidance. The technology is currently being evaluated in multiple sites across the U.S.
“With Gene Weave, we further strengthen our microbiology diagnostics offerings with cutting-edge technology that will aid in the fight against drug-resistant bacteria. 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, COO of Roche Diagnostics.