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OncoDNA to Acquire IntegraGen for €14.5M

NEW YORK – Belgian molecular diagnostics firm OncoDNA has filed a friendly cash tender offer to acquire French firm IntegraGen for €14.5 million ($16.4 million).

OncoDNA has offered to purchase the bioinformatics and genomic services firm at a price of €2.20 per share, representing a premium of more than 36 percent over the last closing price of IntegraGen shares on the Euronext Growth market of Euronext Paris.

Subject to the approval of the Autorité des Marchés Financiers (AMF) and pursuant to applicable regulations to foreign investment control in France, the offer will be opened at the end of the third quarter of 2020.

The firms plan to integrate their service offerings by combining DNA sequencing services and the bioinformatics tools developed by IntegraGen with the portfolio of oncology laboratory tests offered by OncoDNA.

OncoDNA and IntegraGen said that they believe the offer will allow them to provide a unique range of services and software solutions to clinicians, oncologists, researchers, and biologists worldwide. The acquisition will also help the team leverage a proprietary database that includes patient follow-up capabilities and artificial intelligence.

"We are very happy to announce this friendly takeover bid that will bring together IntegraGen's know-how in sequencing services and bioinformatics analyses with our expertise in oncology clinical interpretation," Jean-Pol Detiffe, OncoDNA CEO and founder, said in a statement. "We will integrate the entire chain of genomic operations and benefit from having a large-scale production capability ready for tomorrow's analyses, namely the complete sequencing of the tumor."

IntegraGen CEO Bernard Courtieu added that OncoDNA's international presence will allow IntegraGen to fully exploit its sequencing capabilities.

OncoDNA previously raised €19 million in a Series B financing round in February in order to support its international growth, accelerate software development, and expand its workforce.

For more details about the acqusition, click here.