DNAprint Genomics (DNAG)

[dgplexus]

Another acquisition in the Personalized Medicine space:


Avacta acquires TheraGenetics
Pharmaceutical Business Review - 8 hours ago (according to Google)
Published:03-February-2009

http://drugdiscovery.pharmaceutical-business-review.com/news/avacta_acquires_theragenetics_030209

Avacta, a UK-based biophysics company, has acquired TheraGenetics, a personalized medicine diagnostics company that is developing and commercializing a portfolio of pharmacogenetic diagnostic tests to guide and improve the treatment of central nervous system disorders.

Theragenetics, a personalised medicine diagnostics company which develops tests to improve the treatment of patients with central nervous system (“CNS”) disorders such as schizophrenia and depression.

Under the terms of the agreement, TheraGenetics will be acquired for a combination of cash and stock. Additionally, under the agreement, the US operations will remain in Cambridge, Massachusetts.

Richard Kivel, CEO of TheraGenetics, said: "We are pleased to announce the successful acquisition of TheraGenetics by Avacta. We have made tremendous progress in our efforts to link genes to specific CNS disorders and advance the development of our diagnostic tests to determine patient response to treatment as well as drug side effects.

"The acquisition by Avacta strongly positions the company from both a resource and technology standpoint, as we seek to expedite our development programs and build a foundation for future diagnostic tests for the most common central nervous system conditions."

This Acquisition follows the announcement by the Company on 9 January 2009 of the proposed acquisition of Curidium Medica plc (“Curidium”) which, similarly, operates in the field of CNS personalised medicine whilst employing complimentary, non-conflictive science and technology.