NEW YORK, Jan. 30 (GenomeWeb News) - Oxford Finance, which has backed several genomics companies, is slated to be acquired by Sumitomo of Japan, the companies said yesterday.
Oxford, privately held and based in Alexandria, Va., has provided financing to several life sciences tools companies, including US Genomics, Structural Genomix, and Cellular Genomics. The company said its has a total of 50 active portfolio companies.
If the deal closes, Sumitomo America will acquire all of Oxford's assets for $51 million plus the assumption of certain liabilities related to its businesses, Oxford said.
Sumitomo said it believes the transaction will enable Oxford to triple its portfolio in the net three years and offer its clients and venture capitalists increased access to the Japanese life sciences community, as well as expand its client base and line of products.