Dammam Valley et al to acquire the majority of Arcensus

Dammam Valley, based in the Kingdom of Saudi Arabia, in partnership with other investment partners, announced they are to acquire a majority stake in Germany’s Arcensus GmbH.

Arcensus, founded by Dr Arndt Rolfs, a multi-entrepreneur in biotechnology, chief executive and founder of several innovative biotech companies, is a digital health and diagnostics company providing comprehensive genomic diagnostic services based on Whole Genome Sequencing.

With a cross-functional, international team of geneticists, medical experts and data scientists, Arcensus, one of the world's innovative genetic biotechnology companies, offers its knowledge and bioinformatic expertise in genomic interpretation together with cutting-edge medical and preventive health applications. The management of Arcensus is convinced that with the worldwide implementation of Whole Genome Sequencing as the first line of genomic testing, the genomic era will start quickly and will conquer the molecular medicine market in a short time.

The initiative for the take-over comes from the Kingdom's aim to improve the global speed in implementing genomic testing for the early diagnosis of genetic diseases, mainly in cancer and rare genetic disorders. The financial investment led by Dammam Valley will allow Arcensus to speed up the penetration of the worldwide markets with its innovative solutions. It will be the backbone for developing a comprehensive multi-omic strategy.

Terms of the accord