NEW YORK, Nov. 15 (GenomeWeb News) - DNAPrint Genomics said today that it will acquire the core clinical genomics and genotyping assets of Ellipsis Biotherapeutics in an all-stock transaction.
Under the terms of the agreement, Ellipsis will sell its core assets in exchange for 6,500,000 shares of DNAPrint Genomics' common stock. Based on DNAPrint's share price today, the deal would be worth approximately $112,000. The transaction is expected to be completed by Nov. 30.
DNAPrint said it will retain Ellipsis' employees and business operations, and will retain the Ellipsis Biotherapeutics name as a subsidiary.
This is the fourth major acquisition that DNAPrint has made in the past six months. In June, the company acquired Trace Genetics in an all-stock deal; in July, the firm bought 18 percent of BioFrontera for approximately $1.8 million; and earlier this month DNAPrint purchased Kenna Technologies in another all-stock deal.