Sage Labs, a developer of transgenic animal models with made-to-order disease for research, has been acquired by British gene editing company Horizon Discovery Group for up to $48 million.
The deal’s made up of $16 million in cash and up to $32 million through issuing new ordinary shares, the companies said in a statement. The plan for genomics tool-maker Horizon to build a “fully-integrated life sciences company,” it said, by essentially growing its menu of tools for genomics researchers.
Pennsylvania-based Sage use to be a subsidiary of the publicly traded Sigma-Aldrich, called Sigma Advanced Genetic Engineering, but was made private when it was purchased by management and venture firm Telegraph Hill Partners last year. The company’s built on some $25 million in past investment, the statement read; it’s made up of 50 employees and has a direct U.S. and European sales force.
Solera Health’s Playbook To Beat Rising Employer Expenses
Solera Health is working to streamline employer contracting with health tech.
Horizon’s after some of Sage’s proprietary transgenic technology, such as its ZFR and CRISPR genetic manipulation systems that create targeted gene knockouts, knock-ins, point mutations and humanizations.
Horizon made another U.S. acquisition, high throughput screening company CombiantorRx, in July.