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 1.6bn next year revenue of £24m. 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.