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Warnex Concludes $1.7M Acquisition of PRO-DNA Diagnostics

NEW YORK, May 10 (GenomeWeb News) - Warnex, a Quebecois biotechnology company, said yesterday that it has concluded the acquisition of all of the issued and outstanding shares of PRO-DNA Diagnostics.

 

The company said that it paid CA$1.9 million ($1.7 million) for PRO-DNA, CA$1.4 million of which was paid in cash, and CA$500,000 will become payable either in common shares of Warnex or in cash contingent on milestones
that may be achieved in the 25 months following the closing date of the transaction


Warnex announced its intentions to acquire PRO-DNA, a laboratory that offers genetic testing
services, in April.

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