Sequenom buys clinical diagnostic lab.
San Diego, CA 9/23/08--Sequenom has agreed to acquire the Center for Molecular Medicine (CMM), a Clinical Laboratory Improvement Act-approved molecular pathology lab, for approximately $4.0 million, less CMM's cash at closing. Ninety percent of the purchase price will be paid in stock. Based in Grand Rapids, Michigan, CMM is a joint venture of nonprofit health system Spectrum Health and the Van Andel Research Institute. Sequenom will enter into collaborative agreements with both organizations. "This acquisition positions us well to successfully latmch our SEQureDx Trisomy 21 Down syndrome test through a CLIA-certified lab on schedule during the first haft of 2009," said Sequenom President and CEO Harry Stylli, PhD. "The agreement also provides us with a partnership with Spectrum Health, which is one of the largest health care providers in the country, with more than 140 service sites and approximately 8,000 births each year." Daniel H. Farkas, PhD, HCLD, executive director of CMM, will join Sequenom.
The SEQureDx is a noninvasive, prenatal test that measures cell-free fetal nucleic acids in the mother's plasma. Sequenom also plans to introduce diagnostic tests for its MS-based MassArray system for Rhesus D and Fetal(XY)/Gender Determination. All three tests will be initially sold as homebrew tests, which do not require FDA approval.
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|Title Annotation:||Executive Briefing: News & Views for Executives; Center for Molecular Medicine|
|Publication:||Instrument Business Outlook|
|Article Type:||Brief article|
|Date:||Sep 30, 2008|
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