Health
Merger / DESPAC
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GAITHERSBURG, Md. and OAKLAND, Calif. – GeneDx (Nasdaq: WGS) announced its plans to acquire Fabric Genomics, a pioneer in AI-powered genomic interpretation. The transaction aims to enable decentralized testing with centralized intelligence.
Katherine Stueland, President and CEO of GeneDx, stated that integrating genomic insights into standard care is essential for improved clinical outcomes and cost savings. The acquisition of Fabric Genomics will facilitate adaptable solutions, allowing for proactive use of genomic information without geographic constraints.
Fabric Genomics has demonstrated leadership in scaling complex interpretation services, utilizing its AI-driven platform to support patient diagnosis at various health systems and research centers. The acquisition will allow health systems to use GeneDx’s centralized lab or perform sequencing at their own institutions, accessing the company’s data through Fabric Genomics’ platform.
Key Highlights:
- NICU Genomic Testing: GeneDx can now deploy interpretation infrastructure to hospitals already sequencing in-house, tapping into the demand for rapid whole genome sequencing.
- Genomic Newborn Screening (gNBS): The combination of GeneDx’s early evidence generation and Fabric Genomics’ scalability positions the company to support state and federal gNBS programs.
- Decentralization Drives Global Commercial Expansion: Fabric Genomics’ cloud-native platform enables GeneDx to deliver centralized AI interpretation while complying with local regulations, supporting flexible market strategies.
- Platform Economics at Scale: Fabric Genomics’ software transforms static data into a dynamic, recurring revenue-generating platform.
The acquisition is expected to expand GeneDx’s addressable market with multiple scalable revenue streams. At closing, Fabric will continue to operate independently, while GeneDx will provide commercial support.
Under the terms of the agreement, GeneDx will pay up to $33 million in cash upon closing, with total consideration potentially reaching $51 million upon achievement of certain milestones. The acquisition, approved by the company’s Board of Directors, is expected to close in the second quarter of 2025, subject to closing conditions.