Skip to main content
Premium Trial:

Request an Annual Quote

Sumitomo Completes $77M Acquisition of Oxford Finance

NEW YORK, June 15 (GenomeWeb News) - Sumitomo has completed its acquisition of Oxford Finance, which has backed several genomics companies, the companies said today.


Sumitomo Corporation of America, the US arm of the Japanese-based global trading giant, paid $77 million in cash and debt for Oxford Finance, according to the companies. The transaction, first announced Jan. 29, was approved in a May 28 shareholder meeting.


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.


Under the acquisition, Oxford will retain "operational independence," as well as its current management team," the companies said.


"With the closure of this transaction, Oxford will be able to provide its clients and venture capitalists with a direct link to the Japanese life science market for collaborative partnerships, distribution agreements and equity investments," Alden Philbrick, president and CEO of Oxford Finance, said in a statement.

The Scan

US Booster Eligibility Decision

The US CDC director recommends that people at high risk of developing COVID-19 due to their jobs also be eligible for COVID-19 boosters, in addition to those 65 years old and older or with underlying medical conditions.

Arizona Bill Before Judge

The Arizona Daily Star reports that a judge is weighing whether a new Arizona law restricting abortion due to genetic conditions is a ban or a restriction.

Additional Genes

Wales is rolling out new genetic testing service for cancer patients, according to BBC News.

Science Papers Examine State of Human Genomic Research, Single-Cell Protein Quantification

In Science this week: a number of editorials and policy reports discuss advances in human genomic research, and more.