15 October 2014 | News | By BioSpectrum Bureau
OGT named 'Best Medtech Dealmaker'
The award recognizes OGT's acquisition of Cytocell
Oxford Gene Technology (OGT) has won the Best Medtech Dealmaker award 2014 at the Oxford Bioscience Network (OBN) awards. This is the second consecutive year that the company has won the award. The award recognizes OGT's acquisition of Cytocell, a leading provider of DNA technology for the detection of gene rearrangements related to inherited genetic disease and cancer, earlier this year.
The acquisition enables OGT to increase its genomic medicine offering by enabling entry into the complementary and rapidly growing market for fluorescence in-situ hybridisation (FISH) products.
Dr Jon Rees, CEO, OBN said, "The quality of nominees continues to rise year on year and compiling a shortlist and picking winners gets harder. The award of Best Medtech Dealmaker to Oxford Gene Technology reflects what has been a highly successful move for both OGT and Cytocell. To win this award twice in consecutive years makes a real statement about OGT's ambition, strong business model, and strategy."
Mr Tim Hall, CFO, OGT said, "The acquisition of Cytocell represents our commitment to becoming a global leader in genomic medicine. We are very grateful to OBN for recognising the opportunity and the value of the deal. Cytocell's innovative DNA technology and strong brand has added to our portfolio of class-leading genomic technologies, and we are already seeing the benefits."