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SOL Group Acquires Majority Stake in Personal Genomics

NEW YORK (GenomeWeb) – Industrial holding group SOL Group today announced it has taken a 51 percent stake in genomic services firm Personal Genomics.

Financial and other terms of transaction were not disclosed.

Established in 2011 and based in Verona, Italy, PG has expertise in whole-genome and whole-exome sequencing for the clinical setting. Its two flagship services are Genome Insight, to help healthy people identify their genetic predispositions, and Genome Insight Med, for patients suspected of having genetic disorders.

The firm's menu of tests includes genetic panels for cardiovascular disease risk and noninvasive prenatal testing. Additional tests are being developed for the early diagnosis of cancer, pharmacogenomics, and nutrigenetics, SOL said.

SOL will provide resources to PG to further develop its research projects and implement its new facility dedicated to DNA sequencing. SOL will also expand PG's footprint in Europe, it said. SOL, based in Monza, Italy, has a presence in 24 countries on the continent, as well as in India, Turkey, Morocco, and Brazil. It employs more than 3,100 workers and posted €703.4 million ($800.3 million) in revenues in 2016.