Nanogen to Acquire SYN X Pharma
By HospiMedica staff writers
Posted on 24 Feb 2004
In a move that will provide the company with a pipeline of complementary diagnostic products, Nanogen, Inc. (San Diego, CA, USA) has agreed to acquire SYN X Pharma, Inc. (Toronto, Canada) in an all-stock transaction.Posted on 24 Feb 2004
SYN X is preparing to commercialize a point-of-care diagnostic product for congestive heart failure (CHF) as a result of a worldwide license to the marker NT-pro-BNP (N-terminal pro-hormone brain natriuretic peptide) from Roche Diagnostics. SYN X's test will offer stability at room temperature and quicker results. The company currently markets point-of-care diagnostic tests for myocardial infarction, infectious diseases, and drugs of abuse; and is developing a line of tests under the brand name Nexus Dx for insulin resistance and traumatic brain injury.
"The acquisition of SYN X supports Nanogen's long-term strategy to commercialize advanced diagnostics that enhance the level of medical care for the detection, diagnosis, monitoring, and treatment of disease,” said Howard Birndorf, chairman and CEO of Nanogen. The company intends to operate SYN X as a business unit and to retain the SYN X brand name and the Toronto research facility.
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