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Ocimum Gets Up to $17M Capital Investment, Closes Gene Logic Genomics Biz Buy

NEW YORK (GenomeWeb News) – Ocimum Biosolutions has landed an equity investment of up to $17 million and has closed its acquisition of Gene Logic’s genomics division, the company said today.
The capital investment came from Kubera Cross Border Fund, as well as affiliates of Kubera Partners, which manages KUBC.
Ocimum said that the acquired genomics business will retain the Gene Logic name and will continue operating out of Gaithersburg, Md.
Ocimum agreed in October to pay $10 million for the Gene Logic genomics division, including $7 million up front and $3 million in 18 months.
Including the newly acquired Maryland office, Ocimum now has operations in Indianapolis, the Netherlands, and India, the firm said.