Roche agrees to buy privately-held GeneWeave for upfront $190 million
Swiss drug major Roche (SIX: ROG) on Thursday said it has agreed to acquires privately held GeneWeave for an upfront payment of $190 million in a bid to strengthen its microbiology diagnostics arm.
The company in a statement said under the terms of the deal it will also pay up to $235 million to GeneWeave shareholders in contingent product sales.
Chief operating officer of Roche Diagnostics, Roland Diggelmann, said: “With GeneWeave, 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.”
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