OGT expands genomic medicine portfolio with acquisition of CytoCell

Oxford, UK – 04 March 2014. OGT, a provider of innovative genetics research solutions, today announced the acquisition of Cambridge-based Cytocell^® Limited (CytoCell), a leading provider of DNA technology for the detection of gene rearrangements related to inherited genetic disease and cancer.

Key benefits of the acquisition are summarised below:

• Expansion of OGT’s genomic medicine offering. CytoCell’s portfolio of Fluorescence In Situ Hybridisation (FISH) probes complements OGT’s CytoSure^® cytogenetics array and next generation sequencing products.
• Entry into the large and growing market for FISH products. The market for FISH products is currently estimated to be worth $295m, growing at 19% per annum.*
• Enlargement of the product offering to North American customers. OGT has a dedicated North American cytogenetics sales team already in place. This team will work with CytoCell’s current distributor, Rainbow Scientific Inc., to provide an enhanced service and promotional capability.
• Strengthening of OGT’s distributor network. CytoCell currently develops and supplies its range of over 300 products to more than 60 countries through a network of distributors, apart from in the UK and Germany where it sells directly to the end user.
• Development of new products. CytoCell’s proprietary collection of 34,000 Bacterial Artificial Chromosome clones (BAC) provides a unique source of potential new products.
• Financially beneficial to the enlarged Group. CytoCell is a profitable company with sales of £4.5m and growing at 20% in the last financial year. The deal will be immediately accretive upon acquisition.
• Added experience to the management team. CytoCell’s Managing Director Dr Martin Lawrie, will join OGT’s executive committee.

The acquisition was funded through cash augmented with a debt facility provided by Silicon Valley Bank, highlighting the Bank’s commitment to the life science market in the UK. No financial details are being disclosed.

Dr Mike Evans, CEO of OGT said, “The acquisition of CytoCell underscores our commitment to becoming a global leader in genomic medicine. CytoCell brings to the OGT Group, innovative DNA technology, an excellent team and a strong brand with a reputation for high-quality FISH products. This is a great opportunity to add to our portfolio of class-leading technologies and position ourselves for growth across new geographical markets and customer application areas.”

Dr Martin Lawrie, Managing Director of CytoCell said, “This is an excellent strategic fit for both CytoCell and OGT. The aim is to continue to develop and produce our world-renowned FISH-based diagnostic products from our facility in Cambridge and take advantage of OGT’s established sales and marketing infrastructure in the US and Europe as well as its innovative science to expand the markets for these products. We very much look forward to being part of the OGT Group.”

Nooman Haque, Director of Life Science at Silicon Valley Bank’s UK Branch added, “The acquisition of CytoCell will further propel OGT’s business in life science products. I’m delighted that Silicon Valley Bank supported the management team in completing the transaction”. 

About OGT

OGT, a Sysmex Group company, is a leading global provider of clinical and diagnostic genomic solutions that are created for scientists by scientists - including CytoCell^®, CytoSure^® and SureSeq™ ranges of FISH, microarray and NGS products. The company is dedicated to creating products that enable researchers and clinical decision makers to reach the right care decisions for each patient, every time. OGT strives to unlock the future of genetic clinical care with a commitment to working in partnership with its customers - not only by sharing its expertise of 25 years at the forefront of genetic endeavour, but also by working closely with scientists to understand their unique challenges, and to customise its approach to meet their exact needs. Dedicated to improving clinical care, OGT believes that through partnership—together—we’ll achieve more.

For more information on the Company, please visit our website at ogt.com

CytoSure^®, SureSeq™ and myProbes^®: For Research Use Only, not for use in diagnostic procedures. CytoCell: Some products may not be available in your region.

About Sysmex Corporation

Sysmex Corporation is a world leader in clinical laboratory systemization and solutions, including laboratory diagnostics, laboratory automation and clinical information systems. Serving customers for more than 50 years, Sysmex focuses on technological leadership in diagnostic science and information tools that make a difference in the health of people worldwide. The company is also exploring emerging opportunities in the life science field. Its R&D efforts focus on the development of high-value-added testing and diagnostic technologies that are innovative, original and optimize individual health. Sysmex also seeks to leverage its state-of-the-art technologies for cell, gene and protein analysis. The company, headquartered in Kobe, Japan, has subsidiaries in North America, Latin America, Europe, the Middle East, Africa, China and Asia Pacific and employs more than 9,000 employees worldwide. Sysmex Corporation is listed in the top tier of the Tokyo Stock Exchange.

For more information about Sysmex Corporation and its affiliate companies, please visit www.sysmex.co.jp/en/.