The Genome Canada program will encourage the formation of private-public partnerships to develop gene-based technologies for healthcare and agriculture.
The acquisition will enable Tecan to expand into the genomics space by coupling NuGen's NGS sample prep kits with its own laboratory automation products.
The groups will conduct a study evaluating the benefits of targeted next-generation sequencing in the diagnosis and care of infants with genetic disorders.
Initial purchasers will also have a 30-day option to purchase up to an addition $100 million of the notes for a potential offering size of $750 million.
The company plans to offer nearly 2.5 million units at a price of $6.00 to $7.00 per unit, which at the midpoint of the range would raise about $16 million.
The firm's next-generation sequencing diagnostic test analyzes tumor samples from multiple genomic mutations that are targeted by therapies for non-small cell lung cancer.
A randomized clinical trial from France revealed similar miscarriage rates in women who had cell-free DNA screening for trisomy 21 prior to invasive testing.
