Roche (RHHBY) acquires privately-held U.S. gene sequencing company Genia Technologies for as much as $350M. The deal involves $125M up front and as much as $225M in contingent payments depending on certain milestones.
Genia's value proposition is low cost sequencing. It uses cheap electronic semiconductors in its platform instead of optical sensors. Roche expects the technology to increase speed and sensitivity in addition to lowing costs.