PrecisionLife has acquired its long-term Danish technology development partner GenoKey.
The acquisition enables PrecisionLife to continue its expansion as an AI-enabled precision medicine company, it states. Financial details of the paper-based transaction were not disclosed.
Benefit from GenoKey’s strong relationships with the Danish health system and leading academic clinical research centers
PrecisionLife’s platform, which includes technology developed with GenoKey, enables the company to gain unique insights into genes associated with disease, as biomarkers and as targets for drug discovery. PrecisionLife’s business model maximizes the impact of its platform by partnering with others as well as building a pipeline of proprietary assets in chronic diseases, it states.
In addition to its expertise and IP, PrecisionLife will benefit from GenoKey’s strong relationships with the Danish health system and leading academic clinical research centers including Aalborg, Aarhus and Copenhagen. Recently, PrecisionLife joined the pan-European FEMaLe consortium led by researchers from Aarhus University, which is a EUR 5.3 million international EU Horizon 2020 project that aims to develop precision medicine approaches to improve the diagnosis, treatment and quality of life of patients with endometriosis.
Maintain its core platform development operations at GenoKey’s site in Denmark
“This acquisition presents an exciting opportunity to ensure that GenoKey’s 10 years’ of pioneering analytics development can contribute to the global challenge of delivering new solutions for patients with unmet medical needs in chronic diseases, which represent a huge economic and social burden to healthcare systems and millions of patients around the world,” says Hans-Christian Brahe Møller, Chairman of GenoKey.
PrecisionLife will maintain its core platform development operations at GenoKey’s site in Denmark with further team expansion in the region planned. GenoKey’s Chairman and co-founder, Hans-Christian Brahe Møller joins the board of the wholly-owned subsidiary, PrecisionLife ApS. GenoKey’s scientific advisors will become part of the PrecisionLife advisory group.
“The acquisition of GenoKey solidifies a long-term highly productive collaboration around core IP, and positions PrecisionLife for its next round of investment and growth as a leader in the delivery of precision medicine beyond cancer and rare disease,” says Dr Steve Gardner, CEO of PrecisionLife.