DN sequencing technology company DNA Electronics (DNAe) has acquired US-based life sciences technology developer NanoMR in a $24m cash deal, providing an exit to chemicals company Dow.
Founded in 2007, NanoMR specialises in creating diagnostic systems that can isolate rare cell types from blood and other biological material. UK-based DNAe plans to integrate the company’s technology with its own to form a complete blood-to-result testing system.
NanoMR had raised $25.5m in debt and equity prior to the transaction, according to press releases and regulatory filings, including $5.5m from a 2008 series A round in which Dow’s corporate venturing arm Dow Venture Capital invested alongside VSpring Capital and Sun Mountain Capital.
HealthCare Ventures and Excel Venture Management were also among NanoMR’s exiting investors.
Chris Toumazou, chief executive of DNAe, said: “The acquisition of the NanoMR technology and team underscores our commitment to developing a complete point-of-need solution for diagnosis of infectious diseases, particularly those that cause sepsis, where speed and DNA-specific information can make the difference between life and death.
“NanoMR brings a game-changing technology, a wealth of scientific expertise and the potential for exciting new applications to DNAe.”