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CeMines Puts Research Tools Business on the Block as Clinical Market Beckons

Dec 13, 2005

NEW YORK, Dec. 13 (GenomeWeb News) - CeMines is putting on the block its research tools business and related inventory of polyclonal antibodies, cDNA, and mRNA, the company said today.

 

"Our decision is based on the company's final preparations to enter global clinical markets, beginning in Europe, with our CellCorrect product family of high-accuracy molecular diagnostic tests for cancer detection," said Roger Attick, president and CEO of CeMines, in a statement.

 

As reported in GenomeWeb News on Sept. 27, the company's Estonian subsidiary filed for CE Mark registration for its CellCorrect product family, a gene expression-based lung cancer diagnostic tool.

 

The company has already received multiple offers from selected prospective buyers and is actively reviewing pro forma bids, CeMines said. The company expects to make a final decision before the end of this year, but declined to comment on pricing or specific proposals.

 

According to the company, CeMines entered the research tools business in 2001. The business includes associated trademarks and a multinational customer base.

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