Latest news with #FabricGenomics
Yahoo
09-05-2025
- Business
- Yahoo
GeneDx completes acquisition of Fabric Genomics
GeneDx has completed the acquisition of Fabric Genomics, a US-based company focused on AI-driven human genomic interpretation. The two companies now aim to focus on the next generation of genomic medicine, facilitating decentralised testing with centralised intelligence. Last month, GeneDx announced its plans to acquire Fabric Genomics, with an aggregate payment of up to $33m in cash at closure. The deal value could potentially go up to an aggregate of $51m after achieving specific milestones. The exome and genome testing and rare disease data assets of GeneDx, combined with the AI interpretation services of Fabric Genomics will create a genomic diagnostic ecosystem. GeneDx noted that the integrated model provides flexibility for healthcare providers and systems, offering a seamless workflow for centralised and decentralised genomic services. This synergy is powered by GeneDx's clinical expertise and interpretation technology of Fabric. Fabric Genomics will maintain its operational independence as GeneDx's subsidiary, advancing its growth trajectory with commercial backing from its new parent company. The acquisition unlocks several growth avenues for GeneDx, including expediting neonatal intensive care unit (NICU) genomic testing to swiftly diagnose critically ill newborns, positioning the company to support large-scale genomic newborn screening (gNBS) programmes worldwide. Additionally, the acquisition will allow for models that are regulation-compliant for AI-powered interpretation services throughout various global regions. It also taps into recurring revenue streams that are based on software via Fabric Genomics' interpretation-as-a-service model. Fenwick & West acted as the legal adviser for GeneDx during this acquisition. Meanwhile, TD Cowen provided exclusive financial advice to Fabric Genomics, with DLA Piper (US) offering legal counsel. GeneDx CEO and president Katherine Stueland said: 'Healthcare is at an inflexion point where genomic insights must be integrated into standard care to improve outcomes and reduce costs. 'With Fabric Genomics now part of GeneDx, we're uniquely positioned to deliver earlier and more accurate diagnoses worldwide, from NICUs and pioneering newborn screening programmes to health systems across the globe.' "GeneDx completes acquisition of Fabric Genomics" was originally created and published by Medical Device Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
07-05-2025
- Business
- Business Wire
GeneDx Announces Completion of Fabric Genomics Acquisition
GAITHERSBURG, Md. & OAKLAND, Calif.--(BUSINESS WIRE)--GeneDx (Nasdaq: WGS), a leader in delivering improved health outcomes through genomic insights, today announced the successful completion of its acquisition of Fabric Genomics, a pioneer in AI-powered genomic interpretation. Together, GeneDx and Fabric Genomics are ushering in the next era of genomic medicine, enabling decentralized testing powered by centralized intelligence to set the standard of care across the globe. 'Healthcare is at an inflection point where genomic insights must be integrated into standard care to improve outcomes and reduce costs,' said Katherine Stueland, President and CEO of GeneDx. 'With Fabric Genomics now part of GeneDx, we're uniquely positioned to deliver earlier and more accurate diagnoses worldwide, from NICUs and pioneering newborn screening programs to health systems across the globe.' The combination of GeneDx's industry leading exome and genome testing and unmatched rare disease data asset with Fabric Genomics' advanced AI interpretation services establishes a new ecosystem for genomic diagnostics. The integrated model offers greater flexibility for providers and health systems, enabling seamless workflow integration for both centralized and decentralized genomic services, all powered by GeneDx's deep clinical expertise and Fabric's advanced interpretation technology. Fabric Genomics will operate independently as a subsidiary of GeneDx, continuing to drive momentum with commercial support from GeneDx. The acquisition accelerates several key growth opportunities for GeneDx: NICU Genomic Testing: Accelerates time-to-diagnosis for critically ill newborns with scalable genomic solutions that integrate into major health system workflows, enabling GeneDx to deliver flexible end-to-end offerings and increase access to testing. Genomic Newborn Screening (gNBS): Positions GeneDx to support large-scale newborn screening programs in the U.S. and globally. Global Commercial Expansion: Enables flexible, regulation-compliant models for AI-powered interpretation services across EMEA, APAC, LATAM, and more. Platform Economics: Unlocks recurring software-based revenue streams through Fabric's interpretation-as-a-service model. Advisors: Fenwick & West LLP served as legal advisor to GeneDx. TD Cowen served as exclusive financial advisor to Fabric Genomics in connection with the acquisition while DLA Piper LLP (US) served as legal advisor to Fabric Genomics. About GeneDx: At GeneDx (Nasdaq: WGS), we believe that everyone deserves personalized, targeted medical care—and that it all begins with a genetic diagnosis. Fueled by one of the world's largest, rare disease data sets, our industry-leading exome and genome tests translate complex genomic data into clinical answers that unlock personalized health plans, accelerate drug discovery, and improve health system efficiencies. For more information, please visit and connect with us on LinkedIn, Facebook, and Instagram. About Fabric Genomics: Fabric Genomics, a wholly owned subsidiary of GeneDx, is transforming healthcare through its AI-driven interpretation of the human genome. The company provides organizations with end-to-end clinical sequence analysis solutions that include the Fabric Enterprise software platform and expert clinical interpretation services needed to scale genetic testing. At the core of our platform is a suite of sophisticated AI algorithms and data knowledge systems that turn genomic data into expert clinical insights. Headquartered in Oakland, California, Fabric Genomics supports clinical applications across a variety of use cases including rare disease, oncology, cardiovascular, neurological and women's health. To learn more, visit and follow us on X (Twitter) and LinkedIn. Forward Looking Statements This press release may contain 'forward-looking statements' within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements generally are identified by the words 'believe,' 'project,' 'expect,' 'anticipate,' 'estimate,' 'intend,' 'strategy,' 'future,' 'opportunity,' 'plan,' 'may,' 'should,' 'will,' 'would,' 'will be,' 'will continue,' 'will likely result,' and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: (i) our ability to implement business combinations, plans, goals and forecasts, and identify and realize additional opportunities, (ii) the risk of downturns and a changing regulatory landscape in the highly competitive healthcare industry, (iii) the size and growth of the market in which we operate, (iv) our ability to pursue our new strategic direction, and (v) our ability to enhance our artificial intelligence tools that we use in our clinical interpretation platform. The foregoing list of factors is not exhaustive. A further list and description of risks, uncertainties and other matters can be found in the 'Risk Factors' section of our Annual Report on Form 10-K for the fiscal year ended December 31, 2024, and other documents filed by us from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and we assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. We do not give any assurance that we will achieve our expectations.
Yahoo
01-05-2025
- Business
- Yahoo
GeneDx earnings selloff a buying opportunity, says Craig-Hallum
Craig-Hallum recommends using the post-earnings weakness in shares of GeneDx (WGS) as a buying opportunity. The stock is down over 25% following a 'modest' Q1 exome and genome volume miss, which is the company's first ever sequential decline in volumes, the analyst tells investors in a research note. The firm says management noted Q1 volumes were negatively impacted by significantly worse than expected weather impacts as well as one less day. Encouragingly, GeneDx also saw accelerating volumes in March, with strong momentum into Q2, says Craig-Hallum. It believes the company's exome and genome volume growth will accelerate as the year progresses. The firm reiterates a Buy rating on the shares with a $114 price target The stock in morning trading is down 41%, or $47.56, to $69.41 in morning trading. Discover companies with rock-solid fundamentals in TipRanks' Smart Value Newsletter. Receive undervalued stocks, resilient to market uncertainty, delivered straight to your inbox. Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See today's best-performing stocks on TipRanks >> Read More on WGS: Disclaimer & DisclosureReport an Issue GeneDx earnings selloff a buying opportunity, says Craig-Hallum GeneDx reports Q1 EPS (23c), consensus 9c GeneDx raises 2025 revenue view to $360M-$375M from $350M-$360M GeneDx Holdings Acquires Fabric Genomics for $33 Million GeneDx to acquire Fabric Genomics for $33M in cash at closing Sign in to access your portfolio
