Thames Valley: Penningtons Manches advises Oxford Gene Technology on the acquisition of Cytocell

Penningtons Manches LLP has advised Oxford Gene Technology (OGT) on its acquisition of Cytocell, a leading Cambridge-based European developer and manufacturer of probes for use in routine cytogenetics and in the analysis and classification of cancers.

OGT provides world-class genetics research solutions to leading clinical and academic research institutions and has a strong reputation and increasing share in the large and growing genomic medicine market. Cytocell has focused on developing products for oncology and its products are available through a well-established distributor network, covering more than 60 countries worldwide.

The acquisition was funded through cash augmented with a debt facility provided by Silicon Valley Bank.

Dr Mike Evans, OGT’s CEO, said: “This is a great opportunity to add to our portfolio of class-leading technologies and position ourselves for growth across new geographical markets and customer application areas. Our legal team’s sector knowledge and ability to advise on all aspects of the acquisition at every stage of the deal was invaluable to us.”

The Penningtons Manches team, led by Reading corporate partner Justin Starling, comprised lawyers from the firm’s Oxford, Cambridge and Reading offices including Chris Shelley, IP and commercial partner; Helen Drayton, banking and finance partner; and Elizabeth Yell, corporate associate.