ACQUISITIONS
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Aliso Viejo's Clarient inks $17 million deal
The firm is acquiring Applied Genomics in an all-stock merger.
By Kristen SchottPublished: December 22, 2009 10:58 AM
Aliso Viejo-based Clarient has purchased Applied Genomics through a stock deal valued at up to $17.6 million. As a result, the Alabama-based firm has become a wholly owned subsidiary of Clarient, which provides technology and services for the pharmaceutical industry.
The move is expected to advance Clarient's work in the cancer field by providing a number of new initiatives to the company, according to Clarient CEO Ron Andrews. Among them: a product pipeline that includes a lung cancer panel; development capacities for new diagnostic tests; and an eastern U.S. lab that benefits the firm's pharmaceutical services efforts.
"Applied Genomics and Clarient represent a strong strategic and technological fit providing for multiple proprietary tests than can be commercialized via the Clarient national footprint," adds Andrews.
He says the pipeline and lung cancer test, Pulmotype, which is set to be commercialized early next year, "fulfills an important strategic need" for the firm.
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The move is expected to advance Clarient's work in the cancer field by providing a number of new initiatives to the company, according to Clarient CEO Ron Andrews. Among them: a product pipeline that includes a lung cancer panel; development capacities for new diagnostic tests; and an eastern U.S. lab that benefits the firm's pharmaceutical services efforts. "Applied Genomics and Clarient represent a strong strategic and technological fit providing for multiple proprietary tests than can be commercialized via the Clarient national footprint," adds Andrews. He says the pipeline and lung cancer test, Pulmotype, which is set to be commercialized early next year, "fulfills an important strategic need" for the firm. NEXT PAGE >> Related headlines Noritsu America Corp. acquires Lucidiom SCM stockholders approve Bluehill ID AG merger Strategic Storage Trust expands to Pittsburgh |
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