OGT goes FISHing with Cytocell buy
This article was originally published in Clinica
Executive Summary
Genetic research specialist Oxford Gene Technology (OGT) has acquired fellow UK firm Cytocell for an undisclosed fee. In doing so, it gains a portfolio of fluorescence in situ hybridization (FISH) probes that complement its existing offering of cytogenics array and next-generation sequencing products. FISH is used to map DNA sequences, for example to detect chromosomal abnormalities such as Down’s syndrome. The FISH market is currently worth $295m and is growing at 19% per year, OGT estimates. Cambridge-based Cytocell will also strengthen OGT’s distributor network (it sells to more than 60 countries through partners, except in the UK and Germany, where it has a direct presence); and has a potential source of new products in its proprietary collection of bacterial artificial chromosome (BAC) clones. Cytocell reported sales of £4.5m, up 20% year-on-year, in its most recent fiscal year, according to OGT. The deal will be immediately accretive upon completion.