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OGT focuses on high growth genomics products
3 September 2015. Oxford Gene Technology (OGT), the molecular genetics company, announced a strategic realignment of its commercial operations to fuel further growth in its high value genomics products portfolio. As part of this realignment, OGT will transfer its next generation sequencing services business to Source BioScience (LSE: SBS). Financial details were not disclosed.
Mike Evans, CEO of OGT commented, “Our strategic focus on the large and growing genomic medicine markets of cancer, molecular cytogenetics and reproductive health has delivered significant commercial growth. OGT’s genomics products portfolio has been growing at a compound annual growth rate of over 60% over the last four years and we have thus aligned our strategy and resources behind our genomics product business.”
OGT’s high-growth, product-focussed, strategy has been exemplified through the acquisition of Cytocell, a leading provider of fluorescence in situhybridisation (FISH) probes, in 2014, and its subsequent successful integration. OGT now has a strong, rapidly growing, core business comprised of CytoSure arrays and Cytocell FISH probes, with further product growth opportunities from its recently launched SureSeq range of cancer panels and its CytoSure Affirm non-invasive pre-natal test (NIPT) currently in clinical trials.
Mike Evans commented further on OGT’s transfer of its services business, “We will be providing our genetics analysis service customers with a high calibre alternative to OGT. We have worked closely with Source BioScience, well known as a trusted provider of state-of-the-art laboratory services, to ensure our customers will continue to receive best-in-class service and support, coupled with a seamless transition. Furthermore, OGT’s analysis software will be licensed to Source BioScience as part of the transfer, allowing customers continued access to the consistent, high quality, genetic analysis that OGT provides.”
Oxford Gene Technology provides world-class genetics research solutions to leading clinical and academic research institutions. Founded by Professor Sir Edwin Southern, and with customers in over 60 countries, OGT has a strong reputation and increasing share in the large and growing genomic medicine market. OGT is based at Oxford University Begbroke Science Park.
For more information on OGT, please visit our website at www.ogt.com.