NEW YORK (GenomeWeb News) – Nanogen today said that it would file for Chapter 11 bankruptcy and sell substantially all of its assets to Elitech for $25.7 million.

Nanogen said that the filing does not affect the operations of Nanogen Advanced Diagnostics, its affiliate based in Milan, Italy. Although that affiliate is not part of the filing, Nanogen said that Elitech would acquire ownership of NAD as well.

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