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.
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.
