May 22, 2020 / 5:29 AM / 16 days ago

Roche buys U.S. gene sequencing tech company Stratos Genomics

FILE PHOTO: General view of the Roche building in Welwyn Garden City, following the outbreak of the coronavirus disease (COVID-19), Welwyn Garden City, Britain, May 14, 2020. REUTERS/Paul Childs

ZURICH (Reuters) - Pharmaceutical group Roche (ROG.S) has acquired U.S.-based Stratos Genomics to further develop DNA-based sequencing for diagnostic use, it said on Friday.

“The acquisition provides Roche access to Stratos Genomics unique chemistry, Sequencing by Expansion,” the Swiss drug maker said in a statement. “The Roche nanopore sequencer, once developed, will utilise a novel approach that combines electronic and biological components to sequence DNA for fast, flexible and cost-effective clinical diagnostic testing.”

Financial details of the agreement were not disclosed.

Reporting by Brenna Hughes Neghaiwi; editing by Thomas Seythal

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