Transgenomic to Focus on MX-ICP
The GAP provides WAVE Direct HPLC systems for detecting genetic variation, as well as OEM genetic analysis systems and consumables. In 2014, GAP revenue fell 13.1% to $10.6 million, or 40% of revenues, which also include lab services. MX-ICP (Multiplex ICE COLD-PCR), a highly sensitive amplification technology that can be used with any platform, was launched earlier this year. Transgenomic recently sold its IC business (see IBO 7/15/15).
Omaha, NE 9/30/15 — Transgenomic has announced the signing of a term sheet to sell its Genetic Assays & Platforms Business Unit (GAP) to ADTEC, a Japanese supplier of instruments and reagents to the biotechnology industry. Transgenomic will receive $300,000 for existing GAP stock and inventory. The divestment is expected to reduce Transgenomic’s expenses by $1.2 million per quarter. “Following the closing of the transaction, we expect to dedicate all of our corporate resources on growing our high potential molecular diagnostics products and services, and accelerating commercialization of our MX-ICP technology for liquid biopsies and precision medicine,” stated Transgenomic President and CEO Paul Kinnon. ADTEC currently supplies the Hanabi product line, which is sold by GAP.
