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UCB Acquires Element Genomics for $30M

NEW YORK (GenomeWeb) – Belgian biopharmaceutical developer UCB announced today that it has acquired Durham, North Carolina-based Element Genomics for $30 million, which will include upfront and short-term success-based milestone payments.

A biotech spinout from Duke University, Element Genomics has developed several technologies to further understand genome structure and functions, such as CRISPR editing technology for genomic and epigenetic regulatory region analysis and modulation.

Element's technologies and expertise will help augment UCB's biopharmaceutical development pipeline by strengthening UCB's target discovery and interpretation in disease relevant systems.

"[We] are thrilled that UCB shared our vision for treating disease through knowledge gained through functional genomics and the vast and largely unexplored biology of the epigenome," Element CEO John Oxaal said in a statement.

Element will continue to be based in Durham, while working with UCB's international research teams.

"This acquisition is perfectly in line with our network strategy, where we seek the best partners to augment our expertise in key scientific areas," UCB chief strategy officer Alexander Moscho said in a statement. "This in turn helps us to maintain a dynamic pipeline of cutting-edge programs which we can grow organically or choose to partner out to deliver the most value for patients."