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Peripatetic ParaGen Finds New Home with Quebec s DNA LandMarks

Jan 10, 2003

NEW YORK, Jan. 10-ParaGen, the plant genotyping business, is changing hands again: The Quebecois firm DNA LandMarks has signed a letter of intent with Paradigm Genetics to acquire the business.

 

Founded by Celera, this plant genotyping business was initially known as AgGen. In December 2001, Celera passed the business offto Paradigm Genetics in a deal worth roughly $2.1 million.

 

John Ryals, the former CEO of Paradigm, said at the time that the acquisition would allow Paradigm to offer a full range of agricultural genomics services. By November 2002, though, the company announced plansto sell the division as part of cost-cutting efforts.

 

Financial details of the agreement with DNA LandMarks, which is projected to close in 30 days, were not disclosed.

 

ParaGen may make a softer landing with its new owner: unlike Celera and Paradigm Genetics, DNA LandMarks is focused exclusively on crop science. The company, based in St.-Jean-sur-Richelieu, Quebec, is the Canadian affiliate of BASF Plant Science.

 

For further information, see the press release.

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