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Source BioScience Acquires ImaGenes for $3.1M

By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) – Source BioScience today said that it has acquired genomics research products and services firm ImaGenes for £2 million ($3.1 million).

London-based Source BioScience originally built its business in the histopathology market. But over the past three years, it has added contract research services including DNA sequencing, genotyping, and gene expression analysis. The acquisition of ImaGenes will provide it with a variety of genomic products for genotyping, gene expression, and bioinformatics, as well as protein arrays, sequencing services, and cDNA and genomic clone products and libraries.

ImaGenes also is a certified service provider for both Agilent and Roche NimbleGen technologies, which complements Source BioScience's existing microarray services and status as a certified service provider for Illumina technologies.

Berlin-based ImaGenes had revenues of £2.5 million for full-year 2009, and a loss before tax of £24,000. The firm was formed in 2007 from a management buyout of part of the German Resource Centre for Genomics and currently employs 30 people.

"The acquisition of ImaGenes provides a platform for increased penetration of the European life science research and healthcare markets, acting as a catalyst for accelerated growth," Source BioScience CEO Nick Ash said in a statement. "The ImaGenes team will bring significant depth of experience and knowledge to the group and we will be able to leverage their existing links with academic centres and research institutions across Europe."

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