
GeneDx (Nasdaq: WGS), a Stamford, CT-based company which specializes in delivering improved health outcomes through genomic insights, acquired Fabric Genomics, an Oakland, CA-based company which specializes in AI-powered genomic interpretation.
Under the terms of the agreement, and subject to the terms and conditions thereof, GeneDx will pay up to an aggregate of $33 million in cash upon closing with total consideration potentially up to an aggregate of $51 million upon achievement of certain milestones.
The acquisition is expected to close in the second quarter of 2025, subject to closing conditions.
The acquisition will consolidate GeneDx’s position in the next phase of genomic medicine: decentralized testing with centralized intelligence.
Fabric Genomics is a genomics-driven precision medicine company providing clinical decision support software that enables clinical labs, hospital systems and country-sequencing programs to gain actionable genomic insights, resulting in more accurate diagnoses and reduced turnaround time. Its end-to-end genomic analysis platform incorporates AI algorithms, and has applications in both hereditary disease and oncology.