Zinger Key Points
- GeneDx will acquire Fabric Genomics for up to $51 million to enhance AI-driven diagnostics and newborn screening.
- The deal enables decentralized genomic interpretation, expanding global reach and boosting revenue through a scalable platform model.
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GeneDx WSG announced plans on Wednesday to acquire Fabric Genomics, a pioneer in AI-powered genomic interpretation, to create a leading platform for rare disease diagnostics and newborn screening.
Under the agreement, GeneDx will pay up to $33 million in cash at closing, with the total consideration potentially reaching $51 million upon achieving certain milestones.
The acquisition is expected to accelerate genomic newborn screening, enhance NICU testing capabilities, and expand GeneDx’s global reach through on-site sequencing and remote interpretation.
By integrating Fabric’s cloud-native, decentralized platform, GeneDx will be able to offer flexible, regulation-compliant services worldwide and transform its vast dataset into a scalable, recurring revenue model.
“Healthcare is at an inflection point where integrating genomic insights into standard care is becoming essential – both for better clinical outcomes and for saving the healthcare system valuable dollars,” said Katherine Stueland, President and CEO of GeneDx. “Adding Fabric Genomics and their talented team moves us closer to that future, enabling our partners to deliver groundbreaking genomic insights to patients across the globe.”
Stueland added that the combined platform will support faster, more accurate, and accessible genomic analysis, helping to proactively deliver precision diagnostics without geographic limitations.
As of December 31, 2024, GeneDx held $142.2 million in cash, cash equivalents, marketable securities, and restricted cash.
Additionally, April saw GeneDx expand into Inborn Errors of Immunity, offering exome and genome testing for over 200,000 U.S. patients. The move enhances diagnostic accuracy, accelerates treatment, and opens new opportunities with biopharma partners to advance precision medicine in inherited immune disorders.
Price Action: WGS shares are trading lower by 1.72% at $100.47 at the last check on Wednesday.
Photo via Shutterstock
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