Genaissance to Acquire DNA Sciences

In a transaction that will aid the company's drug development activity, Genaissance Pharmaceuticals, Inc. (New Haven, CT, USA) has agreed to acquire DNA Sciences, Inc. (Fremont, CA, USA) for around US$1.3 million in cash and stock. Genaissance will acquire substantially all of the assets of DNA Sciences, subject to bankruptcy court proceedings and approval.

DNA Sciences is focused on developing DNA diagnostics for critical medical and therapeutic decisions. The company utilizes DNA-based tests in clinical trials to understand differential response to medication and diagnose the state of diseases. The company is also an important provider of pharmacogenetic services to the pharmaceutical industry.

Genaissance is focused on the discovery and use of human gene variation for the development of personalized medicines. The company markets its technology and clinical development skills to the pharmaceutical industry as a complete solution for improving the development and marketing of drugs.

"This proposed transaction would further our goal of building a comprehensive business in drug response pharmacogenomics while maintaining our internal financial benchmarks,” said Kevin Rakin, president and CEO of Genaissance. "The post-acquisition Genaissance would be a true one-stop shop for the healthcare industry to apply pharmacogenomics to drug development.”





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