Ocimum Biosolutions to Buy Gene Logic’s Genomics Business
Indianapolis, IN. — October 15, 2007— Ocimum Biosolutions Inc. announced today that it has agreed to buy Gene Logic’s Genomics Business for $ 10 million in cash. The purchase includes Gene Logic’s Knowledge Products business which is anchored by the world’s largest databases of human biology (BioExpress®) and response to treatment (ToxExpress®) integrated with the Genesis™ software system and expanded through web-enabled products like Ascenta™, Sciantis™ and ToxShield™. As part of the transaction, Ocimum has also acquired Gene Logic’s comprehensive genomic and genetic services business which provides customers with access to a biorepository of over 80,000 unique samples, targeted sample accrual using its significant clinical network, data generation on multiple platforms including Affymetrix, Agilent, ABI and others, and biostatistical and other data analysis services. Ocimum will continue to operate the business out of the current state-of-the-art laboratory facility in Gaithersburg, Maryland.
“Gene Logic has a wonderful track record and a great scientific team,” said Anuradha Acharya, CEO of Ocimum Biosolutions. “Ocimum continues to position itself as a preferred partner for genomics outsourcing. With this acquisition, the combined strengths of Ocimum and Gene Logic Genomics will make us an obvious choice for partnering. The Genomics business, when integrated with Ocimum’s strengths in BioIT, BioMolecules and BioResearch groups, forms a premiere business that can support multiple aspects of the life sciences industry. Gene Logic’s Genomics customers will also benefit from Ocimum’s global presence.”
O3 Capital advised Ocimum on the deal. O3 Capital Advisors Pvt. Ltd. is a boutique investment banking firm that offers financial advisory and securities brokerage services. The firm provides merger and acquisition, capital syndication, equity research, market analysis, and investment advisory services. It caters to financial services, information technology, infrastructure, life sciences, logistics, manufacturing, and real estate sectors. O3 Capital Advisors is headquartered in Mumbai, India with an additional office in Bangalore, India. www.o3capital.com
About Ocimum Biosolutions:
Ocimum is a privately held company with equity from IFC (International Finance Corporation, the private equity arm of the World Bank Group). Ocimum is part of the Ficus Enterprises, a group of 11 companies in five different industries. Ocimum Biosolutions, Inc is located at Indianapolis, Indiana and has Sales and Distribution channels across the world. Ocimum’s Indian headquarters are located in Hyderabad while their European headquarters are in IJsselstein, The Netherlands. Through its’ three divisions – Bio-IT, Bio-Molecules and Bio-Research, Ocimum provides a wide spectrum of Bio-IT and Genomic Services. to clients throughout the world, including Bio-IT software products & services, DNA chips & hybridization services, custom oligos, genotyping & expression services and custom genomics services. For more information on Ocimum Biosolutions and its products, visit www.ocimumbio.com. For more information, please visit: www.ocimumbio.com
