Mergers & Acquisitions

Clinical Data to acquire molecular diagnostics company

Published in Gene Therapy Weekly, July 21st, 2005

Clinical Data, Inc., (CLDA) and Genaissance Pharmaceuticals, Inc., (GNSC) announced that they have signed an agreement for Clinical Data to acquire Genaissance Pharmaceuticals in an all-stock transaction valued at approximately $56 million.

The merger will marry the skills and capabilities of a classic diagnostic company with a leader in the promising area of pharmacogenomics, creating a combined company that will offer an opportunity to enter the molecular-diagnostics market.

Israel M. Stein, MD, president and CEO of Clinical Data, commented, "Genaissance Pharmaceuticals is a strong strategic fit, enabling us to enter the molecular diagnostics...

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Source: Gene Therapy Weekly (2005-07-21)

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