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Genomics One Seeks to Acquire Canadian Shop s Proteomics Assets, Assumes CA$175K in Debt

NEW YORK, Nov. 19 (GenomeWeb News) - Genomics One has acquired from Solidarity Fund QFL a secured debt of CA$175,000 ($147,717) against Dephy Technologies, a Montreal-based proteomics company that recently filed for bankruptcy protection and ceased its activities.

 

Under the agreement, Genomics One will pay CA$175,000 and issue 20,000 common shares from its capital stock in exchange for the debt, plus accrued interest.

 

"Genomics One's intent in completing this deal was to be able to acquire all the tangible and intangible assets of Dephy which include equipment, completed instruments, work in process, intellectual property, and know-how," Suzanne Lebel, president and CEO of Genomics One, said in a statement. "Through this acquisition, Genomics One has become the only secured creditor of Dephy."