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Insolvent Integrated Genomics Sells Assets to New Owner

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Integrated Genomics is now owned and operated by IG Assets, a Mount Prospect, Ill.-based corporation, according to a statement on the company's website.

IG Assets acquired the rights to company as well as all associated intellectual property. The new owners will continue to operate the Integrated Genomics brand and to provide ERGO subscriptions and genome analysis services to customers "with the original Integrated Genomics team," the website states.

The new firm "has not assumed any of the obligations of Integrated Genomics," according to the statement.

Although specific details about the purchase weren't disclosed, the statement said that, prior to the acquisition, Integrated Genomics became insolvent and that all of its assets were seized by its creditors.

Chicago-based Integrated Genomics was founded in 1997 with a focus in genome-analysis tools for microbial genomics. The company's flagship product is the ERGO web-based genome analysis platform, which integrates proprietary functional genomics data, metabolic reconstructions, expression profiling, and biochemical and microbiological data with publicly available information.

The company has been involved in at least two lawsuits involving former employees, Nikos Kyrpides and Natalia Ivanova, both of whom were recently acquitted (BI12/03/2010).

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