Horizon Discovery agrees to acquire Haplogen Genomics in $9 million deal
Life science research tool supplier Horizon Discovery Group (LSE: HZD) has agreed to acquire Haplogen Genomics, a Vienna-based biotech company.
Haplogen is to be bought for £6 million ($9 million) 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 £3.9 million.
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.
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