NEW YORK (GenomeWeb News) – Transgenomic today said that it has signed an agreement to acquire the biorepository assets of Gene Logic for $250,000 in cash.
The biorepository contains 60,000 human tissue samples and extracted DNA specimens with linked clinical information and will be used to validate Transgenomic's assays. Specifically, Omaha, Neb.-based Transgenomic said that it will use the samples in development and validation of its Reveal family of Ice Cold-PCR-based oncology assays as well as its Wave MCE System and Surveyor Scan Mutation Detection Kits.
"This transaction significantly strengthens Transgenomic's position in translational medicine services, providing a deep source of clinical samples allowing us to validate new drug-associated genetic targets," Transgenomic CEO Craig Tuttle said in a statement. "The biorepository provides not only strategic and operational benefits, but also long-term cost savings."
Gene Logic, a subsidiary of Ocimum Biosolutions, had filed for bankruptcy protection last year, and earlier this year its assets were put up for auction.