UK biotech firm Horizon ##tech has acquired the gene tech subsidiary of plc ##tech , Dharmacon , extending its position in the gene manipulation market . plc was purchased for £ 65 million ( $ 25 m ) with funds from an £ 80 m share placing , with the acquisition more than doubling the company 's 2016 revenue of £ 24 m . The purchase will increase Horizon Discovery 's access to the American market , which is presently its largest client market .
UK biotech firm Horizon Discovery has acquired the gene tech subsidiary of General Electric, Dharmacon, extending its position in the gene manipulation market. Dharmacon was purchased for £65m ($85m) with funds from an £80m share placing, with the acquisition more than doubling the company's 2016 revenue of £24m. The purchase will increase Horizon Discovery's access to the American market, which is presently its largest client market.