DNAPrint announced its plans to acquire privately held Ellipsis, which will operate as a drug and diagnostic subsidiary, in mid-November.
Ellipsis will retain its name and will function as a Canadian company from its corporate headquarters in
In addition, the company will retain its existing personnel and management.
DNAPrint did not disclose financial terms of the acquisition today, but in November, the company said that it would exchange 6.5 million of its shares for Ellipsis. Based on DNAPrint's share price this morning, that would place the value of the acquisition at around $130,000.
Ellipsis uses Beckman Coulter's GenomeLab SNPstream and Illumina's Beadstation to perform contract SNP genotyping for academic centers, hospitals, human healthcare companies, and biotech firms. The company also owns a portfolio of genetic data and intellectual property from "unique patient populations," specifically related to Crohn's disease, and is currently developing diagnostics in this and related areas of autoimmune inflammatory disorders.