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Moving on Acquisition Strategy, Magellan Buys Dynex from Capital Genomix

NEW YORK, Oct. 21 (GenomeWeb News) - Magellan Biosciences has acquired Dynex Technologies, a clinical diagnostics and drug-discovery company and the instrumentation division of Capital Genomix, Capital Genomix said today.

 

Dynex will operate as a subsidiary of Magellan, which was "established to build a leading life science tools company" through "growth and acquisitions," said the statement. Ampersand Ventures owns a majority of Magellan.

 

"This transaction will provide Capital Genomix with the necessary working capital to accelerate our drug discovery and development programs," James Wishart, Capital Genomics CEO, said in a statement.

 

Magellan is based in Chelmsford, Mass. Financial details of the transaction were not disclosed.