M&As this week: Berkeley Advanced Biomaterials, NantOmic
GNI Group has entered an agreement to purchase 70% share in biologics company Berkeley Advanced Biomaterials (BAB), based in California, US, for a purchase consideration of $59.7m.
BAB manufactures advanced bone graft substitutes based on hydroxyapatite, calcium and collagen, as well as tissue products used in orthopaedic and spinal surgery.
The acquisition will make BAB a consolidated subsidiary of GNI and will enable the acquirer to expand its product line and its product reach into new markets such as Japan.
Molecular diagnostics company NantOmics has completed the acquisition of San Genos, a company based in San Francisco, US, that is involved in next-generation sequencing, personal genetic discovery and research.
The share enables NantOmics to integrate the target company’s technology, technical expertise, and data visualisation and research platform into its panomic analysis tools.
Integration will further strengthen NantOmics comprehensive diagnostic platform, which delivers patient-specific panomic information and improves disease diagnosis and treatment.