OGT to be acquired by Sysmex Corporation
Oxford Gene Technology (OGT), The Molecular Genetics Company, today announced that it has signed an agreement to be acquired by Sysmex Corporation (Sysmex), a Japanese in vitro diagnostic company.
Sysmex will acquire all of OGT’s shares, gaining access to OGT’s genetic analysis technologies and expertise in the cytogenetics domain. OGT will become a wholly owned subsidiary of Sysmex. Further terms of the agreement are not being disclosed.
Sysmex develops, produces and sells integrated instruments, reagents and software used in in vitro diagnostics and is the leading supplier globally in haematology, haemostasis and urinanalysis. The acquisition of OGT will allow Sysmex to enter the cytogenetics market with FISH (fluorescence in situ hybridisation) and aCGH (array comparative genomic hybridisation) products. It will also strengthen its technology base in molecular genetics through OGT’s NGS (next generation sequencing) reagent development capabilities. The acquisition of OGT expands Sysmex’s life science business and reinforces its initiatives towards personalised medicine.
For the year ended 30 September 2016 OGT recorded sales of £19.7m primarily from its fully integrated molecular genetics product portfolio of Cytocell® FISH probes, SureSeq™ NGS products and CytoSure™ microarray products that together grew by 30% in FY16. The sustained profitable growth in rapidly expanding markets along with OGT’s strong heritage in hybridisation-based technologies positions it well for the future in the field of molecular medicine and the acquisition by Sysmex serves to further strengthen this position.
Professor Sir Edwin Southern, founder of OGT comments “We are delighted to become part of such a well-regarded organisation and truly believe that the opportunities arising from joining a large global corporation like Sysmex will be transformational for OGT, its employees and customers”.
Several product development synergies have been identified that combine OGT’s innovation and expertise in genetic assays for haematology, solid cancer and rare disease with Sysmex’s expertise in instrument development and in vitro diagnostics to expand offerings in genomic medicine. For example, R&D teams from OGT and Sysmex will collaborate to develop an automated system for FISH testing by combining Sysmex’s automation technology with the high-quality FISH reagent development expertise OGT possesses.
In addition, adding OGT’s array CGH and NGS capabilities will expand opportunities further in genetic testing in the field of rare diseases and liquid biopsies.
OGT’s CEO Dr Mike Evans adds, “Alongside the exciting product development opportunities already identified, there are a number of beneficial commercial synergies that will expand market access for OGT’s products putting us at the forefront of molecular genetics. We are looking forward to the next chapter in our development as part of Sysmex”.
For further information, please contact: Emma Shipstone EVP Marketing
Oxford Gene Technology, Begbroke Science Park, Begbroke Hill, Woodstock Road, Begbroke, Oxfordshire, OX5 1PF, U.K.
Notes for editors:
About Oxford Gene Technology
Oxford Gene Technology (OGT) provides world-class genetics research solutions to leading clinical and academic research institutions. Founded by Professor Sir Edwin Southern, and with customers in over 60 countries worldwide, OGT has a strong reputation and increasing share in the large and growing genomic medicine market. The Company’s Cytocell®, CytoSure™ and SureSeq™ range of fluorescence in situ hybridisation (FISH), microarray and next generation sequencing (NGS) products deliver high-quality genetic analysis, enabling accurate identification and confirmation of the causative variation underlying genetic disease.
CytoSure™ and SureSeq™: For Research Use Only; Not for Use in Diagnostic Procedures. Cytocell®: Some products may not be available in your region.
About Sysmex Corporation
Sysmex Corporation is a world leader in clinical laboratory systemization and solutions, including laboratory diagnostics, laboratory automation and clinical information systems. Serving customers for more than 40 years, Sysmex focuses on technological leadership in diagnostic science and information tools that make a difference in the health of people worldwide. The company is also exploring emerging opportunities in the life science field. Its R&D efforts focus on the development of high-value-added testing and diagnostic technologies that are innovative, original and optimize individual health. Sysmex also seeks to leverage its state-of-the-art technologies for cell, gene and protein analysis. The company, headquartered in Kobe, Japan, has subsidiaries in North America, Latin America, Europe, the Middle East, Africa, China and Asia Pacific and employs about 8,000 employees worldwide. Sysmex Corporation is listed in the top tier of the Tokyo Stock Exchange. For more information about Sysmex Corporation and its affiliate companies, please visit http://www.sysmex.co.jp/en/