CalbaTech Acquires MolecularWare

NEW YORK, June 9 - Biotech incubator CalbaTech said today that it has agreed to acquire privately held bioinformatics firm MolecularWare.

Financial terms of the acquisition were not disclosed.

CalbaTech said that MolecularWare, which markets a suite of software tools called DigitalGenome, was a key acquisition target because it "validates CalbaTech's business model in which it is seeking to acquire life-sciences-based companies that have near-term revenue or already have revenue and need a modest infusion of capital and a new structure."

CalbaTech's mission is to incubate companies that will generate sales or licensing revenues within two years and that require less than $1 million to bring a product to market. To date, the company has completed two other technology acquisition agreements: A license to slide-based diagnostics technology from Scottish diagnostics firm QICC; and a DNA isolation and extraction technology developed by J. Zoval, an associate inventor with CalbaTech.