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January 26, 2015
LONDON, January 26, 2015 — Covington has advised Horizon Discovery Group plc on the acquisition of Haplogen Genomics GmbH for an initial consideration of £6 million in cash and the issue of new ordinary shares, with potential earn-out payments based on future performance to be satisfied by the issue of further new ordinary shares having an aggregate value of up to approximately £3.9 million. The acquisition provides Horizon with a proprietary high-throughput cell line generation platform based on human haploid genetics that increases its cell line inventory and enables an on-demand cell line development service to be launched in 2015. Horizon Discovery Group plc is a life science company supplying research tools to organizations engaged in genomics research and the development of personalized medicines.Haplogen Genomics GmbH, renamed Horizon Genomics GmbH, is a biotechnology company based in Austria.The Covington team was led by partner Paul Claydon.