Original from: 360dx

GeneDx said Wednesday that it plans to acquire Fabric Genomics for $33 million in cash with the potential consideration rising to $51 million if certain milestones are met.

The acquisition, which GeneDx said has been approved unanimously by its board of directors, is expected to close in the second quarter of 2025, subject to closing conditions.

At closing, Fabric will continue to "operate independently, maintaining its momentum and fostering organic growth," GeneDx said. GeneDx will also provide commercial support to Fabric both in the US and internationally.

With the Fabric acquisition, GeneDx said it is hoping to accelerate the adoption of NICU genomic testing and newborn screening. In addition, the firm said that Fabric's cloud-native platform will enable it to deliver decentralized AI interpretation of genetic tests while complying with local regulations. 

"With Fabric Genomics' platform integrated into clinical workflows across major institutions, GeneDx can now rapidly deploy interpretation infrastructure to hospitals already sequencing in-house, capturing untapped demand and opening up access," the company said in a statement. 

"Together, we'll make genome interpretation faster, more scalable, and more impactful, enabling clinicians to deliver precise answers and care to patients worldwide," Fabric Cofounder, President, and CEO Martin Reese added in the statement.

Source: GeneDx to Acquire Fabric Genomics in Deal Potentially Worth $51M