Skip to main content
Premium Trial:

Request an Annual Quote

Clinical Data Completes Acquisition of Icoria in $11M All-Stock Deal

NEW YORK, Dec. 21 (GenomeWeb News) - Clinical Data said yesterday that it has closed its acquisition of Icoria.

 

Under the terms of the agreement, Clinical Data will issue 0.01552 of its own shares for each outstanding share of Icoria common stock, representing a price of $.28 per Icoria share based on Clinical Data's share price in mid-afternoon trading. The total value of the transaction is approximately $11 million.

 

Clinical Data initially announced its intention to acquire Icoria in September, and pegged the value of the deal at around $12.5 million. At the time, it said it would issue 0.0139 of its own shares for each share of Icoria common stock, which represented $.32 per Icoria share.

 

Icoria will cease trading on the OTC Bulletin Board under the ticker symbol ICOR.OB "immediately," Clinical Data said.

 

In conjunction with the acquisition, Steven Burrill, formerly chairman of Icoria's board of directors, will join Clinical Data's board, bringing the total number of directors to eight.

 

Israel Stein, president and CEO of Clinical Data, said in a statement that Icoria's metabolomics and gene expression capabilities "will significantly enhance the pharmacogenomics technologies we acquired through our merger with Genaissance Pharmaceuticals."

 

The company purchsed Genaissance in a $56 million all-stock transaction that closed in October.

The Scan

Shape of Them All

According to BBC News, researchers have developed a protein structure database that includes much of the human proteome.

For Flu and More

The Wall Street Journal reports that several vaccine developers are working on mRNA-based vaccines for influenza.

To Boost Women

China's Ministry of Science and Technology aims to boost the number of female researchers through a new policy, reports the South China Morning Post.

Science Papers Describe Approach to Predict Chemotherapeutic Response, Role of Transcriptional Noise

In Science this week: neural network to predict chemotherapeutic response in cancer patients, and more.