- GeneDx (WGS, Financial) announces acquisition of Fabric Genomics for up to $51 million, combining rare disease data with AI-powered genomic interpretation.
- The acquisition aims to expand GeneDx's market reach, targeting multiple revenue streams including NICU genomic testing and global newborn screening.
- The deal is expected to be finalized by Q2 2025, with an initial cash payment of $33 million and an additional $18 million contingent on milestone achievements.
GeneDx (WGS), a leader in genomic insights and diagnostics, has revealed plans to acquire Fabric Genomics, an AI-driven genomic interpretation pioneer, for up to $51 million. This strategic acquisition will merge GeneDx's extensive rare disease data collection with Fabric Genomics' robust AI platform, enabling decentralized testing underpinned by centralized intelligence. The transaction anticipates closure in the second quarter of 2025, contingent on standard closing conditions.
GeneDx will pay $33 million in cash upon closing, with an extra $18 million contingent on achieving specific milestones. The acquisition is set to enhance GeneDx's addressable market by tapping into multiple new revenue streams: targeting the NICU segment with genomic testing where currently less than 5% of the 400,000 annual admissions undergo genetic testing, and addressing a vast newborn screening market (3.7 million births annually in the U.S. alone and 130 million globally).
Additionally, the deal fosters GeneDx's global commercial expansion potential by supporting local sequencing with centralized AI interpretation. The company's platform aims to leverage its database of over 750,000 exomes/genomes to foster AI development and clinical decision-making support. The combination of GeneDx's data prowess and Fabric's AI capabilities positions the merged entity to redefine the standard for genomic medicine interpretation on a global scale.
