Covington Advises Horizon Discovery Group plc on its Acquisition of Haplogen Genomics GmbH

Covington Advises Horizon Discovery Group plc on its Acquisition of Haplogen Genomics GmbH

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.