ZURICH, June 2 Swiss drugmaker Roche
said it was buying privately held Genia Technologies, which is
developing a DNA sequencing platform, for up to $350 million
including milestone payments.
Genia's shareholders will receive $125 million in cash and
up to $225 million in contingent payments depending on certain
milestones, Roche said in a statement on Monday.
"The addition of Genia's single molecule semiconductor DNA
sequencing platform using nanopore technology strengthens our
next generation sequencing pipeline," Roland Diggelmann, Chief
Operating Officer of Roche Diagnostics, said in the statement.
(Reporting by Silke Koltrowitz)