Transgenomic Acquires Gene Logic Biorepository

Transgenomic, Inc. has entered into an agreement to acquire Gene Logic’s biorepository assets for $250,000 in cash. The biorepository contains thousands of human biological samples that can be used to validate diagnostic assays developed by Transgenomic.
 
Transgenomic will use the samples to develop and validate its REVEAL family of ICE COLD-PCR-based oncology assays, as well as its WAVE MCE System and SURVEYOR Scan Mutation Detection Kits.
 
“This transaction significantly strengthens Transgenomic’s position in translational medicine services, providing a deep source of clinical samples allowing us to validate new drug-associated genetic targets,” said Craig Tuttle, chief executive officer of Transgenomic. “The biorepository provides not only strategic and operational benefits, but also long-term cost savings. Acquiring specimens on a case-by-case basis is expensive and time-consuming; such expenditure would quickly surpass the cost of acquiring this asset.”