NEW YORK (GenomeWeb) – Oxford Gene Technology today announced it will direct customers using its next-generation sequencing (NGS) services to genomic services firm Source BioScience.
OGT will receive a commission from Source BioScience on any referrals or transferred orders.
The move comes as part of a decision to focus on genomic products rather than services, the firm said in a statement. "Our strategic focus on the large and growing genomic medicine markets of cancer, molecular cytogenetics, and reproductive health has delivered significant commercial growth," OGT CEO Mike Evans said in a statement. "OGT's genomics products portfolio has been growing at a compound annual growth rate of over 60 percent over the last four years and we have thus aligned our strategy and resources behind our genomics product business."
OGT pointed to its 2014 acquisition of fluorescent in situ hybridization probe maker Cytocell as evidence of the shift towards genomic products.
Evans said that the firm will try to help customers transition smoothly, adding that OGT will license its analysis software to Source BioScience as part of the transfer. Under terms of the license, Source BioScience will pay OGT a royalty if it uses the software on orders other than those transferred or referred to it by OGT.
In an email, a spokesperson for OGT told GenomeWeb that no physical assets, trademarks, or people will be transferred to Nottingham, UK-based Source BioScience and that OGT will continue to provide array services and perform targeted sequencing for potential customers of its SureSeq NGS panels.
Financial and other details were not disclosed.