Tepnel Completes Acquisition of GenXTrak™ DNA Extraction Business from Whatman
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The Board of Tepnel Life Sciences PLC has announced the completed acquisition of the GenXTrak DNA extraction business from UK-based Whatman plc for an undisclosed sum.
The Cambridge-based GenXTrak™ business will now operate within Tepnel's service division, offering extraction, purification, quantification and normalisation of clinical DNA samples.
The acquisition expands Tepnel's access to the pharmacogenomics testing market and positions the Company as one of Europe's largest providers of DNA extraction services.
Commenting on the acquisition, Ben Matzilevich CEO, said, "The acquisition of GenXTrak fits neatly into Tepnel's Research Products & Services division ceating additional capacity for our existing nucleic acid purification business."
"This business will provide access to European based customers and expand our menu of capabilities allowing us to handle a variety of sample types. An important component of Tepnel's strategic plan is to provide expanded capabilities in both genetic and protein analysis."
"In order to compete in these markets Tepnel must be able to provide low cost, high throughput services while meeting pharmaceutical standards. We plan to automate the Whatman facility to improve our competitive position."
"Once implemented in Cambridge we plan to expand these capabilities into our Edinburgh, Scotland and Stamford, USA facilities."