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Animal Biotech Shop MetaMorphix Selling Assets

By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) – Animal biotechnology firm MetaMorphix today announced the sale of its assets as part of its Chapter 11 bankruptcy filing.

The sale is for both its businesses, one directed at animal genomics, the other at growth and differentiation factors. American MedTech Advisors is advising the Calverton, MD.-based firm on the sale.

The animal genomics business is operated as a wholly owned subsidiary, MMI Genomics, based in Davis, Calif. It provides DNA testing for the livestock and companion animal markets.

The growth and differentiation business platform was licensed from the Johns Hopkins University. Its lead growth factor is myostatin, a natural regulator of skeletal muscle.

Bids for the assets are being accepted by MetaMorphix until 4 p.m. March 3. An auction will be held on March 8. Final court approval is expected the following day.

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