Skip to main content
Premium Trial:

Request an Annual Quote

DNA Sciences Files for Bankruptcy, Genaissance To Acquire Assets

NEW YORK, April 1 - DNA Sciences said today that it has filed for Chapter 11 bankruptcy in the US Bankruptcy Court for the Northern District of California.


Genaissance Pharmaceuticals plans to acquire the company's assets for around $1.3 million in cash and stock pending bankruptcy court approval for a pre-negotiated asset purchase agreement. The companies expect this approval process to occur within 60 days.


The acquisition of DNA Sciences' technology "would further our goal of building a comprehensive business in drug response pharmacogenomics while maintaining our internal financial benchmarks," said Kevin Rakin, president and CEO of Genaissance. The company expects the acquisition to be cash-flow positive in 2004 and contribute to Genaissance's goal of reaching financial breakeven in 2005.


Further details are available here.


The Scan

Interfering With Invasive Mussels

The Chicago Tribune reports that researchers are studying whether RNA interference- or CRISPR-based approaches can combat invasive freshwater mussels.

Participation Analysis

A new study finds that women tend to participate less at scientific meetings but that some changes can lead to increased involvement, the Guardian reports.

Right Whales' Decline

A research study plans to use genetic analysis to gain insight into population decline among North American right whales, according to CBC.

Science Papers Tie Rare Mutations to Short Stature, Immunodeficiency; Present Single-Cell Transcriptomics Map

In Science this week: pair of mutations in one gene uncovered in brothers with short stature and immunodeficiency, and more.