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Orchid Biosciences Sells SNPstream System to British Co., Makes Equity Investment

NEW YORK, Oct. 1 – Orchid BioSciences said Monday it had sold its SNPstream system for SNP scoring to Tepnel Life Sciences and made an equity investment in the Manchester, UK-based company.

Under the terms of the deal, Tepnel will also gain access to Orchid’s SNP databases and biochemistry and software kits. In exchange Orchid has acquired the option to evaluate some of Tepnel’s discoveries for possible commercialization.

The companies will also work together to market Orchid’s SNP services in the UK and Ireland, Orchid said.

Exact financial details were not disclosed. The companies could not immediately be reached for comment.  

“We expect that the combination of the 25K system and access to Orchid's SNP databases will provide us with the highly accurate, rapid results that we require for our growing genetic analysis product and service business," Benjamin Matzilevich, CEO of Tepnel, said in a statement. 

Tepnel Life Sciences develops, markets, and sells products for DNA purification and genotyping.

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