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DNAPrint Completes Acquistion of Ellipsis Biotherapeutics

DNAPrint Completes Acquistion of Ellipsis Biotherapeutics

DNAPrint Completes Acquistion of Ellipsis Biotherapeutics

DNAPrint Completes Acquistion of Ellipsis Biotherapeutics

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DNAPrint Genomics, Inc. has announced the completion of its previously announced acquisition of Ellipsis Biotherapeutics Corporation, which will operate as a drug and diagnostic subsidiary.

Ellipsis Biotherapeutics, formerly privately held, is retaining its name and will function as a Canadian company from its corporate headquarters in Toronto, Ontario.

Ellipsis will retain its existing personnel and continue to be managed by Dr. Laurence Rubin, who is also the Director of the Division of Rheumatology at St. Michael's Hospital in Toronto.

His research has focused on the genetic determinants of osteoporosis, rheumatoid arthritis and other inflammatory diseases. He has been with Ellipsis since 2000.

"The Ellipsis Biotherapeutics acquisition strengthens our position in the diagnostic and clinical patient testing market," stated Richard Gabriel, Chief Executive Officer and President of DNAPrint Genomics.

"It also provides potential business opportunities with several large pharmaceutical and animal health care companies currently utilizing Ellipsis’s high throughput screening technologies."

Ellipsis has acquired a diverse portfolio of genetic data and intellectual property from unique patient populations, specifically with Inflammatory Bowel Disease (Crohn’s disease) including last year’s publications of the discovery of a gene for Crohn’s disease.

"We are very excited to be part of the DNAPrint group of companies," Dr. Laurence Rubin stated.

"Our core competencies provide a unique fit for future growth and development of our contract services as well as opportunities to accelerate novel research programs and collaborations."