NEW YORK (GenomeWeb News) — Finnzymes Instruments and Bridge Bioscience have created a joint venture and started a new company to sell certain PCR technologies.
Under the agreement, Bridge Bio will transfer all of the physical assets and patents in its PCR business to the new company, called BioInnovations Oy, which will be controlled by Finnzymes.
According to BridgeBio’s website, the company’s PCR portfolio includes reagents and products for electroporation, electrophoresis, and transfection.
Finnzymes, a PCR and RNA technologies company based in Esposo, Finland, has purchased a majority stake in the new company.
BioInnovations Oy will be based in Finland, but will have a US subsidiary called BioInnovations Inc., according to Bridge Bio President Bruce Turner.
Turner will take over as CEO of BioInnovations Inc., and will serve as COO of BioInnovations Oy.
Financial terms of the agreement were not released.