Singapore biotech company INEX to acquire Taiwan genomics firm for S$5.4 million

MEDICAL technology company INEX Innovate has agreed to fully acquire Taiwan genomics business, Yourgene Health (Taiwan), from its UK-listed parent company.

INEX, a Singapore-based company specialising in fetal and women’s health, will pay up to S$5.4 million including related milestone earnouts over the next two years.

The acquisition is subject to approval by the investment commission of Taiwan’s Ministry of Economic Affairs.

It is expected to complete in eight to 12 weeks and contribute between S$S4.7 million and S$5.4 million in additional revenues for INEX in 2023.

Yourgene Health (Taiwan) is a genomics company with sales in Hong Kong, Japan and Taiwan.

The acquisition is expected to increase INEX’s capabilities in fetal health, oncology research and development, as well as bioinformatics and biobanking. It will also expand the Singapore-based company’s clinical laboratory services in the fields of reproductive health and gynaecological cancers.

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Through the acquisition, INEX will further gain a 10,000 square-foot sequencing laboratory with a 25-man team in the North Asia region. It plans to use the laboratory to run and distribute its proprietary diagnostic technologies in endometrial, breast and ovarian cancers.

“By combining our market knowledge, research capabilities and operational efficiencies with the Taiwan genomics business, we see possibilities to create positive impact in expanded territories, with an increased product portfolio,” said INEX chief executive Kane Black.