NEW YORK, April 11 – Biochip maker GeneScan of Freiburg Germany has acquired a minority stake in Oasis Biosciences of San Diego, Reuters reported Wednesday.
GeneScan, which paid $6 million for a “significant” holding in the company, also acquired the option to buy a majority stake in Oasis in one year’s time, Reuters said.
GeneScan acquired the stake in Oasis in order to gain a hold of its technology to improve the speed and reliability of biochips as it prepares to enter the pharmacogenomics sector.
GeneScan could not immediately be reached for comment.
In January, GeneScan announced that it had entered a deal to develop Motorola’s eSensor DNA detection system to detect genetically modified crops.