Prenetics Global Limited (NASDAQ: PRE), a Hong Kong-based genomic and diagnostic testing company, is to acquire ACT Genomics, an Asia-based genomics company specializing in precision oncology.
The amount of the deal consisted of 19.9 million shares of Prenetics common stock and US$20 million cash.
With the acquisition, Prenetics will expand its footprint in the cancer genomics space. The company expects ACT to contribute revenues of approximately US$25-30 million in 2023.
Led by CEO Dr. Hua Chien Chen, ACT Genomics is an innovation-driven cancer solution provider with offices in Taipei, Hong Kong, Singapore, Tokyo, Bangkok and UK. With its Sequencing (NGS) technology, CAP-accredited laboratories, experienced bioinformatics team, and proprietary AI algorithms, the company provides cancer treatment planning, immunotherapy evaluation, cancer relapse & drug resistance monitoring, as well as cancer risk assessment services to medical professionals.
Led by CEO Danny Yeung, Prenetics is a diagnostics and genetic testing company that develops consumer genetic testing and early colorectal cancer screening; and provides COVID-19 testing, rapid point of care and at-home diagnostic testing and medical genetic testing. The company has operations across nine locations, including United Kingdom, Hong Kong, India, South Africa, and Southeast Asia.
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