Duke spinout Element could generate as much as $30m from the sale, which will enable UCB to boost its research capabilities.
Element Genomics, a US-based genomics technology spinout from Duke University, was acquired by biopharmaceutical developer UCB today in a deal sized at up to $30m depending on upfront and short-run performance milestones.
Founded in 2015, Element Genomics is working on a genomics-based platform that would enable researchers to identify new drug targets more easily by acting as a high-throughput screening system for gene regulatory elements, the DNA component which influences other genes in the human genome.
The technology could enhance the application of existing DNA altering techniques such as Crispr gene editing, used by geneticists to change an organism’s DNA and potentially eradicate the flaws responsible for diseases.
The assets are expected to bolster UCB’s research capabilities, especially benefiting the company’s drug target discoveries and its ability to characterise systems related to diseases.
Duke University professors Kris Wood, Tim Reddy and Greg Crawford, all affiliates of the Duke Center for Genomic and Computational Biology, co-founded Element alongside Charles Gersbach, an affiliate of the Biomedical Engineering unit and the Center for Biomolecular and Tissue Engineering.
Element Genomics previously secured $4.9m in debt financing and options in 2016, according to a securities filing, but has not otherwise disclosed funding.
Dhavalkumar Patel, chief scientific officer of UCB, said: “Element Genomics researchers have a stellar reputation and their scientific expertise in genomics and epigenomics will complement UCB’s, allowing us to deepen our understanding of disease mechanisms with the aim of developing targeted therapies.”
