As part of the deal, BioServe India will be become a wholly owned subsidiary of CGI and will be renamed as Cancer Genetics India.
BioServe India runs a 14,000ft² genomics facility in Hyderabad, which offers services to around 200 clients with genomic services, including next-generation sequencing, genotyping and DNA synthesis.
The deal is said to benefit CGI from immediate revenue through BioServe India’s long-term contracts with academic and research institutions and its capabilities in genetic research, test development and genomic analysis.
BioServe’s clients include Dr. Reddy’s Laboratories, NATCO Pharmaceuticals, Piramal Life Sciences, the Indian Institute of Science Education and Research and the Centre for Cellular and Molecular Biology.
CGI CEO Panna Sharma said the acquisition positions the company to revolutionize cervical cancer screening and treatment in India, where 123,000 new cases are diagnosed annually.
"We now have a growing pipeline of potential clients and collaborators for our non-invasive cervical cancer test in India, where cervical cancer is the leading cause of cancer death in women, accounting for 25 percent of global cervical cancer deaths," Sharma added.
