Integrated DNA Technologies (IDT), a genomics solutions provider based in Coralville, announced the acquisition of Swift Biosciences, a company developing and commercializing NGS Library Preparation Kits that enable technologies for genomics, translational, and clinical research.
”We have been impressed with the Swift products and organizational talent,” IDT President Trey Martin said in a press release. “Swift’s research tools are being used for cancer, inherited disease and other health applications, as well as research in agrigenomics, metagenomics, and the biotech/pharmaceutical industry. Their broad portfolio of library preparation and enrichment products are highly complementary to IDT’s existing NGS product line, giving us an increased ability to provide gold standard offerings to researchers and to be well positioned for future growth.”
Swift employees will transition into IDT while continuing to operate from its existing facilities in Ann Arbor, Michigan.
“The synergies between IDT and Swift make this acquisition an excellent fit,” said Nathan Wood, president and CEO of Swift. “Since entering the NGS market in 2013, Swift’s mission has been to provide research tools for long term improvements in the health of individuals and their communities all around the world. IDT has the commercial engine, operational tools and resources to catalyze these efforts.”
Financial terms of the transaction were not disclosed.