NEW YORK (GenomeWeb) – OncoDNA announced today that it has acquired Spanish personalized cancer genomics firm BioSequence as part of an effort to expand its presence in Europe.
The transaction comes about two years after Belgium-based OncoDNA signed an agreement with BioSequence making it the exclusive Spanish distributor of OncoDNA’s clinical oncology molecular diagnostics such as OncoDeep Dx, which uses next-generation sequencing, fluorescence in situ hybridization, immunohistochemistry, and other approaches to analyze solid tumors.
"This acquisition is part of OncoDNA's strategy for growth, linked with our recent capital increase," OncoDNA Founder and CEO Jean-Pol Detiffe said in a statement. "We are well aware of the BioSequence team's abilities and professionalism, and we have complete confidence in its potential."
Specific terms of the acquisition were not disclosed. OncoDNA said that it would work closely with BioSequence to transition its expertise in the Spanish market, and that it would extend its operations to include Portugal and Latin America.