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US: GE selling Dharmacon for US$85m

By  |  July 20, 2017

Horizon Discovery Group has agreed to acquire GE Healthcare Dharmacon from parent General Electric for US$85 million to create a combined company which will focus on applying gene-editing and gene-modulation technologies in the life science field.

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    Colorado based Dharmacon is an indirect wholly owned subsidiary of General Electric that has grown into one of the leading providers of RNA interference products, with an extensive gene-editing product portfolio.

    Horizon CFO Richard Vellacott said the acquisition “positions Horizon as a world leader in building, engineering, and modulating cells.”

    Horizon disclosed that Dharmacon finished 2016 with net earnings of US$5.4 million on revenues of US$36.7 million, which is more than double Horizon’s own earnings last year (US$31.3 million).

    The acquisition is still subject to approval by Horizon shareholders as well as regulator clearance in the US.

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