Clinomics Biosciences in Agreement to be Acquired by UK-Based Cytomyx Holdings PLC

17-Dec-2003

Clinomics Biosciences Inc., announced that it had entered into a conditional Agreement to be acquired by Cytomyx Holdings PLC (London/AIM: CYX), a public biotechnology company based in Cambridge, England.

"We are extremely pleased to achieve this Agreement with Cytomyx, a rapidly-growing Life Science business strategically-located in the UK," stated Steve Turner, CEO of Clinomics Biosciences. With operations in the U.S. and Europe, our combined company is well-positioned to develop a leading global, Life Sciences franchise."

Founded in 1998, Clinomics is a leading provider of Life Science technology used in the biological characterization of gene & protein targets throughout human disease. Clinomics provides custom gene expression services, that enable pharmaceutical researchers to generate expression profiles of their gene and protein targets, across ultra large sets of clinically defined normal and disease stage-specific biological samples.

Clinomics has pioneered the development of an emerging high throughput biology screening technology known as Tissue MicroArrays, and has obtained three issued U.S. patents. Tissue MicroArrays enable researchers to simultaneously study hundreds of individual tissue samples in parallel to establish the relative levels of protein expression in those samples and thereby draw conclusions as to the relevance of a protein target to a specific disease.

"I believe both companies will benefit greatly from our combined operations and seamless access to the global Life Sciences market." Mr. Turner continued, "Cytomyx has been building a portfolio of drug discovery related products over the past two years and our link with them will enable us to integrate our products and services to increase our overall market position. We plan to build a U.S. based sales force both for Clinomics' existing products and for Cytomyx's new product lines."

https://www.bionity.com/en/news/32905/clinomics-biosciences-in-agreement-to-be-acquired-by-uk-based-cytomyx-holdings-plc.html