Beckman Coulter will take over Clinical Data’s Cogenics division for approximately $17 million. Cogenics provides genomics services and has operations in the U.S., U.K., Germany, and France.
Under terms of the agreement, Clinical Data will receive approximately $15.4 million at the closing, which is expected in April. In addition, it expects to retain approximately $2 million in cash from Cogenics immediately prior to the sale.
Beckman Coulter points out that the acquisition complements the Agencourt Biosciences business and expands its reach into new territories. Cogenics’ solutions span current and next-generation sequencing, gene expression, clinical and nonclinical genotyping, biomanufacturing support, nucleic acid extraction, as well as biobanking for both research and regulated environments.
Clinical Data notes that this agreement completes its efforts to monetize noncore assets and focus resources on advancing its therapeutics pipeline. The company expects data from the Phase III evaluation of vilazodone in depression during the second quarter. Additionally, it plans to move Stedivaze, a pharmacologic stress agent for myocardial perfusion imaging, into late-stage testing this year.
Clinical Data obtained Stedivaze and reportedly other preclinical and clinical compounds in cardiology, diabetes, inflammatory diseases, and sickle cell anemia through its acquisition of Adenosine Therapeutics for $11 million.