Up until now, Agencourt's main focus has been on DNA sequencing and sample prep. Cogenics, which has facilities in four countries, also provides genotyping, gene-expression analysis, biological efficacy and safety testing, and a biobanking facility.
The technology that Transgenomic has licensed is a variation of standard PCR technology that enriches mutations in samples where normal DNA predominates.
The company plans to move ahead with assay development projects for diagnosing Alzheimer's and Parkinson's disease, and for detecting KRAS mutations in colorectal, lung, and pancreatic cancer.
The firm said it only has enough cash to fund its operations through March, and it is evaluating a number of options including the sale of non-core assets or another financing.
Prosecutors have charged a former Drexel University professor with theft for allegedly spending federal grant money on adult entertainment and other unrelated expenses, according to the Philadelphia Inquirer.
Chris Collins, a former US representative, has been sentenced to more than two years in prison in an insider trading case involving an Australian biotechnology firm, the New York Times reports.
