Clinical Data to Aquire Genaissance

In a transaction that will combine the capabilities of a classic diagnostic company with a leader in pharmacogenomics, Clinical Data, Inc. (Newton, MA, USA), has agreed to acquire Genaissance Pharmaceuticals, Inc. (New Haven, CT, USA), in an all-stock transaction valued at around U.S.$56 million.

"Genaissance Pharmaceuticals is a strong strategic fit, enabling us to enter the molecular diagnostics market in a meaningful way,” stated Israel M. Stein, M.D., president and CEO of Clinical Data. "Genaissance currently has two clinical relevant molecular diagnostic tests available commercially and additional developmental opportunities in the CNS [central nervous system] and cardiovascular areas.”

Genaissance Pharmaceuticals is a leader in the discovery and use of human gene variation for the development of a new generation of DNA-based diagnostic and therapeutic products. The company's technology, services, and clinical development expertise are marketed to diagnostic and biopharmaceutical development companies as a comprehensive solution to their pharmacogenomic needs.

"Guiding pharmaceutical therapy through the use of diagnostic tests, also known as ‘theranostics,' requires the integration of regulatory, research, clinical, and marketing approaches,” added Dr. Stein. "We strongly believe the benefits of genetically targeted pharmacotherapy will undoubtedly become essential to disease prevention and treatment.”

"CLDA's strong infrastructure, regulatory experience, and marketing prowess will allow us to deliver on the potential of our technology, while participating in the growth of a well-established, core business,” noted Kevin Rakin, CEO of Genaissance.





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