Basel-based biotech group Swiss Rockets has acquired U.S. life sciences company Complete Genomics. The acquisition will strengthen Swiss Rockets’ portfolio, adding sequencing capabilities to support its activities in targeted cancer therapies and developing next-generation vaccines.
Founded in 2018, the Swiss Rockets Group is an innovative umbrella company with a portfolio of several niche-leading biotech companies ranging from late-stage pre-clinical to Phase III. Its portfolio with a focus on oncology includes projects in radioligand therapies, small molecules and live-attenuated virus vaccines across preclinical and clinical stages.
The company recently concluded a deal with Complete Genomics for its full acquisition. Complete Genomics, founded in 2005, develops DNA sequencing platforms, reagents and software for research applications. The transaction has already received approval from Chinese authorities. Remaining approvals – including Chinese shareholder and U.S. regulatory approvals – are expected in the coming months.
With its long history in next-generation sequencing (NGS) and novel chemistries and technology, Complete Genomics complements and enables Swiss Rockets’ long-term vision by expanding access to precision medicine and wellness broadly while synergistically enabling the development of novel therapies and diagnostics.
The transaction includes a share purchase agreement for the acquisition of 100% of Complete Genomics, as well as an expanded exclusive licence agreement and a development and supply agreement.
Complete Genomics, which became part of China-based MGI in 2018 following its acquisition by BGI in 2013, will continue to operate as a US-based company, with its management team retaining responsibility for day-to-day operations, product strategy, software development, and customer relationships. The company will be led by Vladimir Cmiljanovic, Founder, CEO and Chairperson of Swiss Rockets AG, as CEO with the management team announced at a later date.
“Swiss Rockets recognized Complete Genomics’ strong position in developing and delivering cost-effective, flexible sequencing solutions and saw an opportunity to accelerate innovation and expand market reach,” said Vladimir Cmiljanovic. “We are excited to support the team as they expand their technology portfolio, strengthen supply chain resilience, and accelerate their impact on genomics research worldwide.”
(Press release/AJ)
Photo L-R: Wang Jian, Vladimir Cmiljanovic, Radoje Drmanac