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SeraCare Acquires Genomics Collaborative

Jun 04, 2004

NEW YORK, June 4 (GenomeWeb News) - SeraCare Life Sciences has acquired Genomics Collaborative of Cambridge, Mass., the company said today.

 

In exchange for 1.1 million SeraCare shares of unregistered common stock -- worth approximately $13.5 million based on yesterday's closing price --, $800,000 in cash, and assuming certain liabilities, SeraCare acquired "substantially all of the assets" of GCI.

 

SeraCare, based in Oceanside, Calif., plans to add GCI's repository of clinical samples, as well as GCI's gene expression and validation services, to its BioBank database offerings. It also plans to retain GCI's management and scientific team. SeraCare said it has access to GCI's existing contract accounts, which provided GCI with $4.3 million in sales last year.

 

GCI has a repository of 550,000 samples of well-characterized DNA, serum, and tissues from 120,000 patients.

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