Skip to main content
Premium Trial:

Request an Annual Quote

Transgenomic Signs Agreement to Acquire Annovis

NEW YORK, May 2 – Transgenomic has signed an agreement to acquire Annovis, a San Diego-based nucleic acid and reagent maker, for 1.9 million shares of Transgenomic common stock and $500,000 in cash, the companies announced Wednesday.

"Through this acquisition we continue to build our core competency set which will better enable us to provide total solutions to our customers,” Transgenomic’s CEO Collin D'Silva said in a statement. "Synergies between our technologies will provide an opportunity to develop new products and solutions for our customers and to drive growth for our combined company."

Transgenomic of Omaha, Neb., has sold its WAVE nucleic acid fragment analysis system to over 500 medical research institutions and biotechnology companies. The system can be used for single-strand DNA separation; DNA purification; and double-stranded DNA variation detection and separation and analysis.

Annovis, a privately held company whose major stakeholder is GlaxoSmithkline subsidiary S.R. One, makes nucleic acid building blocks called phosphoramidites as well as oligomimetics, enhanced DNA and RNA molecules that are more stable and bioavailable; and fluorescent markers, dyes, and reagents.

Annovis is also conducting central nervous system research to develop drugs that target glutamate receptors.

The new combined company hopes to leverage Annovis’ oligomimetics technology, Transgenomic’s analysis system, and Transgenomic’s customer base to garner market share in the DNA diagnostics sector, the company said.

Transgenomic expects the acquisition of Annovis to add about $6 million in revenue in the remaining quarters of  2001 and more than $12 million of revenue in 2002. Transgenomic expects consumable sales to rise as a percentage of total sales, to 30 percent of revenues in 2001 and even more in future years.

In morning trading on the Nasdaq, Transgenomic’s share price remained unchanged, at $7.30 per share. 

The Scan

Transcriptomic, Epigenetic Study Appears to Explain Anti-Viral Effects of TB Vaccine

Researchers report in Science Advances on an interferon signature and long-term shifts in monocyte cell DNA methylation in Bacille Calmette-Guérin-vaccinated infant samples.

DNA Storage Method Taps Into Gene Editing Technology

With a dual-plasmid system informed by gene editing, researchers re-wrote DNA sequences in E. coli to store Charles Dickens prose over hundreds of generations, as they recount in Science Advances.

Researchers Model Microbiome Dynamics in Effort to Understand Chronic Human Conditions

Investigators demonstrate in PLOS Computational Biology a computational method for following microbiome dynamics in the absence of longitudinally collected samples.

New Study Highlights Role of Genetics in ADHD

Researchers report in Nature Genetics on differences in genetic architecture between ADHD affecting children versus ADHD that persists into adulthood or is diagnosed in adults.