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New Kid ParagonDx Buys Gentris Diagnostics' Assets; Stratagene's Sorge Nabs Controlling Stake

Aug 29, 2007
NEW YORK (GenomeWeb News) — Newly formed company ParagonDx has acquired the assets of Gentris Diagnostics, a subsidiary of Gentris Corporation, and will focus on developing molecular diagnostic products for laboratories, the company said today.
 
The company, located in
Morrisville, NC , also said that Joe Sorge, founder and former CEO of Stratagene, has assumed a controlling stake in the company. Gentris Corporation will retain a minority stake in the new company. Agilent acquired Stratagene in June.
  
Gentris Corporation CEO Michael Murphy will serve as president and CEO of ParagonDx, the firm added.
 
Among the assets ParagonDx purchased from Gentris Diagnostics are the first six FDA-cleared human genomic reference controls and 46 other reference control products currently being sold to reference labs and diagnostic developers.
 
Also acquired is a new in vitro diagnostic designed to determine a safe starting dose for the anticoagulant warfarin. Earlier this month, the US Food and Drug Administration required manufacturers of warfarin to update the drug’s label to include genetic testing information.
  
According to ParagonDx, the company “in the future” plans a “series of products” for molecular testing. The firm also said it intends to “improve” existing home-brew tests by filing them with the FDA for clearance.
 
"Molecular diagnostics is an emerging market," Sorge said in a statement. "Small, nimble companies such as ParagonDx will be able to adapt to rapidly changing conditions and bring tests to market that will actually help patients."
 
Financial terms of the acquisition were not disclosed.

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