6th Oct 2014 08:04
LONDON (Alliance News) - Horizon Discovery Group PLC said Monday it has entered into a co-exclusive distribution agreement with Haplogen Genomics GmbH.
Under the agreement Horizon will market Haplogen's collection of over 700 human knock-out cell lines, and more than 9,000 gene trap mutants. The products and services potentially represent a "significant revenue stream" for the company subject to market take-up, it said. No financial details of the agreement were disclosed.
These cell lines have only a single copy of each of its chromosomes, which means they can be used to study biological processes. Gene knock-out refers to a technique of making an organisms genes inoperative.
Horizon said the agreement gives it access to a new "high-throughput, affordable cell line engineering service". Haplogen's products are "highly complementary" to Horizon's portfolio, Horizon said.
"This agreement represents a major opportunity for Horizon as we can now address the needs of the majority of academic research labs who have not historically been able to access our custom gene-editing services, but who now will be able to at a price that mirrors that of a typical pre-engineered catalogue item," said Chief Executive Darrin Disley in a statement.
Shares in Horizon are trading up 3.00% at 164.80 pence Monday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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