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Clinical Data sells off pharmacogenomics assets

November 30, 2010 By Mass High Tech: The Journal of New England Technology

Clinical Data Inc. is selling its pharmacogenomics and biomarker development business for $15.4 million to Omaha, Neb.-based Transgenomic Inc. The sale of the Newton firm’s Familion genetic tests and the biomarkers of the PGxPredict tests is the last step for Clinical Data in transforming to a pharmaceutical firm, according to a news release. 

The $15.4 million transaction includes $6 million in cash, a three-year promissory note for $8.5 million and a one-year promissory note for $932,000. Clinical Data will also collect milestone payments and royalty on development of pharmacogenomic diagnostic products. The company is also due a portion of Transgenomic’s accounts receivable – up to $1.8 million.

SOURCE

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  • Applications
    • Cardiovascular
    • Devices
    • Imaging
    • Implantables
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    • Orthopedic
    • Surgical
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