Cytomyx Buys Tissue Bank Business from Ardais for $3M

NEW YORK, March 30 (GenomeWeb News) - Cytomyx has bought the tissue bank business from Ardais for $3 million in cash, the Cambridge, UK-based company said today.

Cytomyx purchased the newly formed subsidiary of Lexington, Mass.-based Ardais, called Biorepository Business. The subsidiary includes a tissue bank of more than 130,000 human tissue samples with clinical information, primarily from cancer patients. The business also offers tissue microarray and other molecular products as well as immunohistochemistry services. Last year, the business unit had $3.7 million in revenues.

Following the acquisition, Cytomyx will relocate its current USbiorepository facility and key personnel from Albany, New York, to Ardais' Lexingtonfacility. Cytomyx will also gain access to Ardais' web-searchable biospecimen management system.