NextGen Sciences Divests Automation and Software Business to Focus on Protein Biomarker Services
News Dec 09, 2008
NextGen Sciences has announced that it has sold its ‘gene to protein’ automation and software business to a management led spin-out called eXeTek Ltd.
The divestment is in line with NextGen’s strategic plan, announced in April 2008, to divest or wind down its software and instrumentation UK-based businesses and to focus all resources on growing the protein biomarker services business.
The deal involves an exclusive license of the products the expressionfactory™, expressionworkstation™ and the controlling software suite orchestratorIMS™, to eXeTek, which is led by two former NextGen employees, Stephen Woodall and Stuart Hill. NextGen has acquired a 24% stake in eXeTek and 5% royalty on sales for three years as part of the deal.
eXeTek will support the existing installed base globally, and will continue to sell the products and guide their future development.
Dr Michael Pisano, CEO of Nextgen Sciences, commented: “The sale of this part of the business will enable us to focus on our biomarkerexpress™ services. Existing customers of the products now supported by eXeTek will continue to receive the same high quality service, from the same team and with no break in cover.”
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