Skip to main content
Premium Trial:

Request an Annual Quote

Nanogen Completes Asset Sale to Elitech

NEW YORK (GenomeWeb News) – Nanogen announced yesterday that it has completed the sale of its assets to French diagnostic firm Elitech for $25.7 million.

The sale was arranged as part of Nanogen's previously announced bankruptcy proceedings and approved by the United States Bankruptcy Court for the District of Delaware.

The company said in a filing with the US Securities and Exchange Commission that the sale was closed following the completion of an auction process supervised by the court "in which Elitech emerged as the winning bidder."

Elitech will operate Nanogen's molecular diagnostics business, including Nanogen Advance Diagnostics in Italy and the company's Bothell, Wash., facility. Elitech's designee DxCon will operate the rapid diagnostics business based in San Diego, Calif.

Nanogen said in the SEC filing that following the asset sale, "there will be no value for common stockholders of Nanogen in the bankruptcy liquidation process" and that the claims of its creditors "will not be fully satisfied."

The Scan

Should've Been Spotted Sooner

Scientists tell the Guardian that SARS-CoV-2 testing issues at a UK lab should have been noticed earlier.

For Martian Fuel

Researchers have outlined a plan to produce rocket fuel on Mars that uses a combination of sunlight, carbon dioxide, frozen water, cyanobacteria, and engineered E. coli, according to Gizmodo.

To Boost Rapid Testing

The Washington Post writes that new US programs aim to boost the availability of rapid at-home SARS-CoV-2 tests.

PNAS Papers on Strawberry Evolution, Cell Cycle Regulators, False-Positive Triplex Gene Editing

In PNAS this week: strawberry pan-genome, cell cycle-related roles for MDM2 and MDMX, and more.