Horizon Discovery buys gene-editing business from General Electric

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Horizon Discovery Group, a global leader in the application of gene editing technologies, today announces that it has entered into an agreement to acquire Dharmacon from General Electric Company for a total consideration of $85 million.

Dharmacon is an indirect wholly owned subsidiary of General Electric Company and is a global leader in RNAi (RNA interference) products with a fast growing gene editing product portfolio especially in CRISPR reagents and arrayed libraries. Dharmacon has a strong brand which is instantly recognisable and trusted in the academic research community for quality, cost, delivery and support.

Darrin Disley, CEO of Horizon commented: “Through the combination of complementary technology, product portfolios and manufacturing capabilities, the acquisition of Dharmacon by Horizon creates an emerging leader in the application of gene modulation technologies in life science research. We expect that the brand recognition, and sales, marketing (including eCommerce) and distribution channel particularly in the academic community as well as intimate relationships in Biotech and Pharma that Dharmacon will bring to Horizon, will transform the opportunity for Horizon’s product portfolio as well as generate attractive cost-base synergies.”

Kieran Murphy, President and CEO of GE Healthcare commented: “We are pleased to reach an agreement that combines the strong Dharmacon brand and technologies with the industry leading gene editing technologies, products and services of Horizon. We believe that the combination creates a global leader in gene modulation and are excited to retain a meaningful stake in the combination.”

SOURCE: biospace
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