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Jan 29 2009, 10:47 AM EST

Avacta Takes Over TheraGenetics to Expand into Clinical Diagnostics

GEN News Highlights

Avacta acquired TheraGenetics, a firm focused on diagnostics related to CNS disorders, in a cash-and-stock transaction. TheraGenetics’ tests are being designed to determine patient response to treatment as well as drug side effects.

Avacta develops detection and analysis technology aimed primarily at the pharmaceutical and healthcare markets and has lately entered the field of clinical diagnostics. The takeover of TheraGenetics thus gives it a stronger position in personalized medicine.

TheraGenetics is developing pharmacogenetic tests for schizophrenia, depression, bipolar disorder, Alzheimer’s, and ADHD.  “We have made tremendous progress in our efforts to link genes to specific CNS disorders and advance the development of our diagnostic tests,” remarks Richard Kivel, CEO of TheraGenetics.

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