Ocimum will take over the microarray know-how, expertise, and assets of the microarray business line, including inventory and stock, but not the staff
Ocimum Biosolutions has signed a letter of intent to acquire core assets of MWG Biotech's genomic diagnosis microarray business.
Ocimum will take over the microarray know-how, expertise, and assets of the microarray business line, including inventory and stock.
MWG Biotech's former genomic diagnosis employees are not part of the transaction.
Financial details were not disclosed.
"This transaction ensures that customers of MWG Biotech's microarrays and microarray services will continue to receive competent high quality products and services based on a strong bioinformatics backbone.
"We are happy that our innovative microarray line will now be further developed in the market by Ocimum", says Wolfgang Pieken, speaker of the management board of MWG Biotech.
Ocimum's president Subash Lingareddy said: "This acquisition, when completed, would be consistent with our strategy to become an integrated genomics company providing innovative wet lab research tools, bio-IT solutions, and contract research services to the pharma and biotech industries.
"We will also have immediate access to over 300 customers and a proven technology platform."
