deCODE Expands Cancer Program through Acquisition of Icelandic Cancer Research Group
deCODE genetics announced its acquisition of privately-held Icelandic cancer research firm Urdur, Verdandi Skuld (UVS). The acquisition enables deCODE to broaden and enhance its cancer program by applying the company's unique gene discovery and drug development capabilities to an even larger set of population-based resources.
"UVS has organized cancer research in Iceland since 1998 and has recruited a large number of patients and controls into their studies. This acquisition strengthens our ability to use population genetics to develop better methods to diagnose, treat and prevent cancer. This is our goal and the goal of the thousands of patients and family members, as well as the dedicated clinicians and scientists, who have taken part in our work and that of UVS over the years," said Kari Stefansson, CEO of deCODE.
deCODE will acquire UVS for $5.5 million that will be paid in deCODE common stock based on the average closing price for the 30 days preceding the acquisition.
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