May 22, 2020 -- Roche Diagnostics is set to acquire Seattle-based Stratos Genomics in a deal it said will help advance its ambitions in DNA-based sequencing.
Roche is developing a nanopore sequencer and said that the acquisition of Stratos "complements development" of its nanopore technology, which is aimed at providing usable DNA-based information to individuals for making healthcare decisions.
"The acquisition provides Roche access to Stratos Genomics' unique chemistry, Sequencing by Expansion (SBX)," Roche said in a statement. "The Roche nanopore sequencer, once developed, will [utilize] a novel approach that combines electronic and biological components to sequence DNA for fast, flexible and cost-effective clinical diagnostic testing."
Stratos plans to stay put in Seattle. Financial terms of the deal were not disclosed.
Roche has a long-term strategy to retain its lead in the IVD market by ensuring it stays ahead in high-growth areas. Nanopore sequencing produces richer, long reads and is thought to be more accurate and cost-effective. The company invested up to $15 million in Stratos in 2014.