Horizon Acquires Haploid Cell-Line Firm
According to Horizon, Haplogen’s platform generates custom-engineered cell lines for less than $1,000, compared to the previous price of $10,000, and in a highly paralleled way, resulting in the production of hundreds per month compared to hundreds per year previously. The companies had signed a coexclusive distribution agreement in October 2014.
Cambridge, UK and Vienna, Austria 1/8/15—Horizon Discovery has agreed to acquire Haplogen Genomics for £6.0 million ($9.1 million = £0.66 = $1) in cash and stock, and potential earn-out payments. Haplogen’s high-throughput platform generates genetically defined human cell lines at a lower cost by using haploid cells. In 2014, Haplogen generated €688,000 ($917,000 = €0.75 = $1) in revenues and had a loss before interest and taxation of €300,000 ($400,000). Horizon stated that the purchase will give it broader access to the academic market, which will now be able to afford custom-engineered human cell lines. The acquisition will also allow it to increase its cell-line inventory 10 fold and to offer cell-line development services, according to the company. Haplogen will be renamed Horizon Genomics, and former CEO Dr. Thomas Moser will become general manager of the subsidiary.
