Swiss pharmaceutical company Roche announced on Thursday, Aug. 13 that it has signed a deal worth up to $425 million with GeneWEAVE BioSciences Inc., a U.S. company known to specialize in microbiology technologies for diagnostic solutions. Through this acquisition, Roche is looking at battling "superbugs" on a whole new level.
Roche said that the company will pay the shareholders of GeneWEAVE $190 million forthright, but it can go further to another $235 million, depending on the outcome of the products.
Through the multi-million dollar deal, Roche will be able to gain access to the "Smarticles" technology of GeneWEAVE. The said innovation enables experts to determine the organisms that are resistant to multiple drugs via direct clinical specimens. This method is faster than traditional measures as it does not require conventional preparation strategies.
"With GeneWEAVE, we further strengthen our microbiology diagnostics offerings with cutting-edge technology that will aid in the fight against drug-resistant bacteria," said Roland Diggelmann, chief operating officer of Roche Diagnostics. Doctors and medical professionals would be able to provide precise diagnoses, which subsequently result in better treatment. Roche is welcoming all the staff of GeneWEAVE, who will still be tasked to continue with their works based on the Smarticles processes.
In the 1990s, Roche suffered from poor returns in the field of antimicrobial drugs in comparison with other treatment regimens, including those that involve malignancies. Still, the Swiss company is known to be one of the pioneers in the modern antibiotic manufacturing industry.
In November 2013, Roche bought another Swiss company called Polyphor, which develops new drugs for resistant types of bacteria. This deal is said to have established Roche's presence in the field of antibacterial research.
Antibiotics are administered to kill different types of bacteria that can cause a variety of illnesses. Most of the antibiotics being developed recently are broad-spectrum, meaning they can kill a wide range of pathogens; however, it may also damage the gastrointestinal flora, leading to increased resistance and the creation of an environment that is conducive to new infections. Through modern diagnostic technologies, such as those created by GeneWEAVE, doctors may be empowered to prescribe the appropriate type of antibiotic needed for the specific infection that their patients have acquired.
"We are very excited to continue developing innovative microbiologic diagnostics solutions as part of the Roche Molecular Diagnostics team," said Steve Tablak, chief executive officer of GeneWEAVE. For him, Roche is the perfect company to execute the innovation of Smarticles. They are completely devoted to continuing the success of the entire GeneWEAVE brand, he added.
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