OGT goes FISHing with Cytocell buy
This article was originally published in Clinica
Genetic research specialist Oxford Gene Technology (OGT) has acquired fellow UK firm Cytocell for an undisclosed fee. In doing so, it gains a portfolio of fluorescence in situ hybridization (FISH) probes that complement its existing offering of cytogenics array and next-generation sequencing products. FISH is used to map DNA sequences, for example to detect chromosomal abnormalities such as Down’s syndrome. The FISH market is currently worth $295m and is growing at 19% per year, OGT estimates. Cambridge-based Cytocell will also strengthen OGT’s distributor network (it sells to more than 60 countries through partners, except in the UK and Germany, where it has a direct presence); and has a potential source of new products in its proprietary collection of bacterial artificial chromosome (BAC) clones. Cytocell reported sales of £4.5m, up 20% year-on-year, in its most recent fiscal year, according to OGT. The deal will be immediately accretive upon completion.
You may also be interested in...
Israel is well-known as a medtech hot-spot, with a focus on academic research and strong government support helping the country punch well above its weight when it comes to innovative devices.
St Jude Medical had a heavy focus on its intravascular imaging offering at this year’s EuroPCR meeting, presenting data supporting its optical coherence tomography (OCT) technology. OCT provides intravascular images to help assess culprit lesions, which can improve stent selection and deployment, according to St Jude.
A big topic at this year’s EuroPCR, held in Paris on 19-22 May, was drug-coated balloons (DCBs). One of the leaders in the field, Medtronic, presented positive data from two studies of its IN.PACT Admiral balloon, which could support an expanded indication for the device.