Horizon Discovery Group plc Acquires Haplogen Genomics GmbH
Horizon Discovery Group plc announced it has agreed to acquire Haplogen Genomics GmbH for an initial consideration of £6.0m (approximately €7.7m) in cash and the issue of new ordinary shares with further potential earn-out payments based on future performance to be satisfied by the issue of new ordinary shares having an aggregate value of up to approximately £3.9m (€5.0m).
The Haplogen Genomics platform represents a novel way to generate precisely engineered human cell lines efficiently and at a price that places genome editing within the reach of the broader academic research market through the use of haploid cells. Haploid cellular models (cells with only one copy of genes) offer a biologically relevant system for in vitro genetic analyses, but can be much easier to generate than normal cell lines as only one copy of a gene instead of the normal two needs to be targeted to generate a complete knock out.
The acquisition provides Horizon with a proprietary high-throughput cell line generation platform based on human haploid genetics that increases its cell line inventory by over 10-fold and simultaneously enables an on-demand cell line development service to be launched in the first quarter of 2015. Combined, these will significantly strengthen the Company’s position in the rapidly growing academic genomics research market.
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