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GeneOhm to Acquire Infectio Diagnostic; Company Will Receive $12M VC Cash Infusion

NEW YORK, Oct. 21 (GenomeWeb News) - Microarray company GeneOhm Sciences will acquire Infectio Diagnostic in a stock swap expected to close in November, the firms said today.

 

The deal will be followed by a $12 million venture-capital investment supporting the combined company, said GeneOhm spokesman JC Kyrillos. He declined to disclose financial details of the transaction.

 

The investment will be made by Princeton, NJ-based Domain Associates; Stamford, Conn.-based Collinson, Howe and Lennox; and Boston-based CB Health. It will help support R&D, sales, and marketing , which will result in two diagnostic products based on GeneOhm's ePlex microarray platform. The technology will be released "in early 2005," said Kyrillos.

 

Initial products will include a microarray-based diagnostic for group-B streptococcus  and methicillin-resistant staphylococcus aureus, said Kyrillos. Additional ePlex multiplex infectious disease products based on Infectio Diagnostic technologies are expected in "early 2006," Kyrillos said.

 

Funding will be used to recruit a salesforce, as well as related sales and marketing expenses, he added. No layoffs will accompany the transaction.

 

Peter Klemm, CEO of GeneOhm, will remain in his position in the combined company, while Infectio Diagnostic President Jean Pierre Gayral will become president of the company's Canadian organization and senior vice president for infectious disease.

 

Infectio is based in Sainte-Foy, Canada.