IntegenX, a US-based DNA identification company backed by Korean conglomerate Samsung, will buy Bio-Sciences, a subsidiary of industrial conglomerate GE’s Healthcare division.
Stevan Jovanovich, chief executive of IntegenX, said: “This acquisition marks an important milestone in IntegenX’s introduction of our first commercially available system for rapid human DNA identification.”
In December, IntegenX raised $40m in series C financing from investors including corporate venturing unit Samsung Ventures and In-Q-Tel, the venture capital (VC) firm supported by the US intelligence community.
VC firm Essex Woodlands led the round while VC firm Domain Associates, QuestMark Partners, Greenspring Associates, Cross Creek Capital and RONAholdings also contributed.
The round followed IntegenX, formerly known as Microchip Biotechnologies, buying biotech peer GenVault in February last year.