Skip to main content
Premium Trial:

Request an Annual Quote

Five Months after Acquisition, Tepnel Again Downgrades Purchase Price for Orchid Diagnostics

NEW YORK, June 1 (GenomeWeb News) - Tepnel Life Sciences said today that it has revised the final purchase price for its January acquisition of Orchid BioSciences' Orchid Diagnostics unit by more than $1 million.

 

Tepnel said that independent auditors revisited the completed accounts for the acquisition and determined that "a further adjustment of the final purchase price" would be necessary, bringing the final price to $2.49 million in cash. This is a dramatic drop from the $3.5 million purchase price quoted in January, which was itself reduced some $800,000 from a $4.3 million price tag originally proposed in October 2003.

 

Tepnel said that the latest price is the result of $957,531 payable by Orchid Biosciences to Tepnel Life Sciences. Of this, $450,000 is held in escrow, and Tepnel said it expects to receive an additional $507,531 from Orchid Biosciences "directly."

The Scan

Unwrapping Mummies' Faces

LiveScience reports that Parabon NanoLabs researchers have reconstructed how three Egyptian mummies may have looked.

Study on Hold

The Spectrum 10K study has been put on hold due to a backlash, leading the researchers to conduct consultations with the autism community, Nature News reports.

Others Out There Already

Reuters reports that Sanofi is no longer developing an mRNA-based vaccine for SARS-CoV-2.

PNAS Papers on GWAS False Discovery, PRAMEF2 Role in Tumorigenesis, RNA Virus Reverse Genetics

In PNAS this week: strategy to account for GWAS false-discovery rates, role of PRAMEF2 in cancer development, and more.