Emory Genetics Laboratory and Eurofins Scientific sign joint venture
Monday, June 29, 2015
Posted by: Angela King
Emory University’s School of Medicine and its Emory Genetics Laboratory (EGL) are joining forces with food and pharmaceutical products testing company Eurofins Scientific.
Luxembourg City, Luxembourg-based Eurofins will acquire a 75 percent stake in EGL for approximately $40 million.
EGL will be renamed EGL Genetic Diagnostics LLC pending regulatory approvals. It is now expected to generate over $15 million in the United States in 2015.
Founded by Emory in 1970, EGL is a component of the Emory’s Department of Human Genetics that is a leader in testing rare genetic disorders. It conducts over 35,000 tests annually for genetic diseases, carrier testing and prenatal testing. More than 80 percent of its analytical portfolio consists of first-to-market tests.
EGL also leads the industry in gene panel testing that includes inherited genetic diseases, cancer testing and exome sequencing to aid diagnosis, prognosis, management and targeted drug therapy, including personalized medicine.
It currently serves more than 400 institutional clients, including hospitals and commercial laboratories across the United States and overseas.
Source: Atlanta Business Chronicle. http://www.bizjournals.com/atlanta/news/2015/06/29/emory-genetics-laboratory-and-eurofins-scientific.html?ana=e_du_pap&s=article_du&ed=2015-06-30&u=q1+EnOO0bIrUsLJdAILw9sm0LCi&t=1435691569