NEW YORK, May 9 – Discovery Partners International has completed its acquisition of gene profiling technology company Xenometrix, the company said Wednesday.
Xenometrix of Boulder, Colo., is the latest addition to Discovery Partners’ drug discovery technology offerings. In February, Discovery Partners signed the initial agreement to acquire Xenometrix for $1.7 million.
On May 4, Discovery Partners shareholders approved the deal. Under the terms of the agreement, Discovery Partners has agreed to purchase all of Xenometrix’s common stock at a share price of 59 cents per share—a 46 premium over its closing price of 41 cents per share the day before the deal closed. Xenometrix will now be operated as a wholly owned subsidiary of Discovery Partners.
This acquisition provides Discovery Partners with unfettered access to Xenometrix’s patented gene profiling technology, which Xenometrix has licensed to Affymetrix, Aurora Biosciences, Corning, Gene Logic, GeneTrace, Genometrix, Genzyme, Motorola, Packard, Pfizer, Phase-1, Rosetta Inpharmatics, and GlaxoSmithKline.
Xenometrix also has proprietary genotoxicity technology that enables high throughput screening for genotoxicity, and its bioinformatics team has been assembling a database of gene profiles for public domain pharmaceuticals.