The FINANCIAL — Roche on August 13 announced that it has signed a definitive agreement to acquire GeneWEAVE BioSciences, Inc. (GeneWEAVE), 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 GeneWEAVE 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, GeneWEAVE will be integrated into Roche Molecular Diagnostics, according to Roche.
The acquisition provides Roche with GeneWEAVE’s 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. GeneWEAVE’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 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,” said Roland Diggelmann, COO of Roche Diagnostics. “We welcome GeneWEAVE’s employees, who will continue to focus on the development and manufacturing of diagnostics solutions based on the Smarticles™ technology.”
“We are very excited to continue developing innovative microbiologic diagnostics solutions as part of the Roche Molecular Diagnostics team,” said Steve Tablak, Chief Executive Officer of GeneWEAVE. “Roche is the ideal company to deliver on the promise of our Smarticles technology. We are fully committed to the continued success of GeneWEAVE’s employees, products and pipeline.”