deCODE Expands Cancer Program through Acquisition of UVS
News Jan 20, 2006
The acquisition enables deCODE to broaden and enhance its cancer program by applying the company's 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," said Kari Stefansson, CEO of deCODE.
"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."
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.
As genome editing technologies advance toward clinical therapies, they are raising hopes of a completely new way to treat disease. However, challenges need to be addressed before potential treatments can be widely used in patients. To tackle these challenges, the National Institutes of Health has launched the Somatic Cell Genome Editing program, which has awarded multiple grants including more than $3.6 million to assess the safety of genome editing in human cells and tissues.