OGT Narrows Focus
Publicly held Source BioScience’s NGS services processed over one million customer samples at eight sequencing service centers in 2014, according to a company presentation. In 2014, OGT’s revenues rose 27.7% to £15.2 million ($24.9 million = £0.61 = $1), including the acquisition of Cytocell (see IBO 3/15/14).
Begbroke, UK 9/3/15; Nottingham, UK 9/3/15; Oxford, UK 9/10/15—Genetics research solutions firm Oxford Gene Technology (OGT) has sold its NGS services business to Source BioScience, a provider of lab services and products, for an undisclosed amount. As part of the agreement, OGT has licensed its analysis software to Source. “OGT’s genomics products portfolio has been growing at a compound annual growth rate of over 60% over the last four years, and we have thus aligned our strategy and resources behind our genomics product business,” commented OGT CEO Mike Evans. OGT has also divested its Proteomics Microarrays platform, consisting of 14 patents, to Sengenics, a research and diagnostics company. “The broad clinical applications of the Immunome protein array in profiling and quantifying differential autoimmune responses in disease and treatment therefore convinced Sengenics to acquire this unique technology from OGT,” commented Sengenics Chief Scientific Advisor Professor Jonathan Blackburn.
