Penningtons Manches’ corporate team has advised the shareholders of Oxford Gene Technology (OGT), a University of Oxford spinout, on its acquisition by Sysmex Corporation.
OGT was founded in 1995 by Professor Sir Edwin Southern, formerly Professor of Biochemistry at the University of Oxford and world-renowned for his invention of ‘Southern Blotting’ and DNA microarrays. The firm has acted as OGT’s lead legal adviser since 1997. OGT provides world-class genetics research solutions to leading clinical and academic research institutions. In particular, it has an innovative product portfolio for molecular genetics.
Sysmex Corporation is a global diagnostics company listed on the Tokyo stock exchange, and is the leading global supplier of haemostasis and haematology analysers. The acquisition means that OGT is now a wholly-owned subsidiary of Sysmex Corporation.
Corporate partner Justin Starling led the Penningtons Manches team, assisted by IP partner Chris Shelley and corporate associates Elizabeth Yell and Chris Voelker. Chris Shelley, who has personally advised OGT on its IP and commercial affairs since 1997, said: “This acquisition is the culmination of many years of hard work building a truly world-class group of companies and I am delighted for the shareholders and employees of OGT that the company has been acquired by such an excellent global life sciences player.”
This deal is the latest in a series of high profile transactions that the Penningtons Manches corporate team has advised on this year. Following revenue growth of 29% in 2016-17, the team continues to build momentum and has completed over 100 transactions so far this year with an aggregate deal value of over £1 billion.