Gene Logic to Sell Genomics Arm to Ocimum for $10M; Retains Rights to Use IP for Repositioning Business | GenomeWeb
NEW YORK (GenomeWeb News) — Gene Logic today said it plans to sell its genomics business to Ocimum Biosolutions for $10 million as it continues to reorganize itself as a drug-repositioning and -development company.
 
Gene Logic said the deal allows it to hold full rights "in perpetuity" to use information from the genomics business to help build its drug-repositioning and -development business.
 

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