Gene Logic Completes Sale of Genomics Assets to Ocimum Biosolutions
News Dec 19, 2007
Gene Logic Inc. has announced that it completed the sale of its Genomics assets to Ocimum Biosolutions Ltd., a global life sciences R&D enabling company. As a result of the sale, Gene Logic Inc. received $7 million in exchange for its genomics assets; an additional $3 million is payable pursuant to a promissory note due 18 months from the date of closing.
Ocimum has assumed certain liabilities associated with the Genomics assets and business. The sale was approved by Gene Logic Inc. shareholders earlier this week. The Gene Logic name transfers to Ocimum Biosolutions and the Company, formerly named Gene Logic Inc., now is renamed Ore Pharmaceuticals Inc. The company’s stock will trade under the ticker symbol GLGC for a few days and then will trade under its new ticker symbol ORXE.
In addition to the drug repositioning and development business, the Company retains specified assets and capabilities related to molecular diagnostics and will continue to explore strategic alternatives for these assets.
Analytical Tool Predicts Disease-Causing GenesNews
Predicting genes that can cause disease due to the production of truncated or altered proteins that take on a new or different function, rather than those that lose their function, is now possible thanks to an international team of researchers that has developed a new analytical tool to effectively and efficiently predict such candidate genes.
Single Gene Change in Gut Bacteria Alters Host MetabolismNews
Scientists have found that deleting a single gene in a particular strain of gut bacteria causes changes in metabolism and reduced weight gain in mice. The research provides an important step towards understanding how the microbiome – the bacteria that live in our body – affects metabolism.READ MORE
Gotta Sample 'Em All! Underwater Pokéball Captures Ocean LifeNews
A new device developed by Wyss Institute reseachers safely traps delicate sea creatures inside a folding polyhedral enclosure and lets them go without harm using a novel, origami-inspired design. The ultimate aim is to allow the sea creatures to be (gently) analyzed in high detail.READ MORE