Addition of metabolite technology uniquely positions company as it expands
its line of predictive diagnostic tests
EMERYVILLE, Calif., Sept. 17 /PRNewswire/ -- Tethys Bioscience, Inc. announced today that it has acquired Lipomics Technologies of West Sacramento, Calif. The acquisition will be finalized today upon completion of customary closing conditions. Financial terms were not disclosed.
The acquisition brings together Lipomics' metabolite profiling technology with Tethys' proven expertise in the use of protein biomarkers to create novel tests capable of accurately predicting a person's likelihood of developing chronic diseases. Tethys launched its first such test - the PreDx(TM) Diabetes Risk Test - earlier this year, and is working to develop similar tests that will predict a person's likelihood of experiencing an osteoporotic bone fracture or a major cardiac event.
Integration of the Lipomics understanding of lipid biology with the Tethys protein biomarker analysis capability provides the Company with state-of-the- art technology as it extends its focus beyond diabetes. With this combination, Tethys is uniquely positioned to develop unprecedented insights into the biological mechanisms of a host of diseases.
"We are very excited to add this highly complementary expertise to our increasingly diversified technology portfolio," said Mickey Urdea, Tethys' founder, chairman and CEO. "We believe that the best solutions for predicting and thereby preventing a range of chronic conditions will come from the thoughtful integration of multiple types of biomarkers - including proteins and metabolites. The addition of Lipomics furthers our goal of arming patients and physicians with insights that will help reduce the incidence of preventable chronic diseases."
With completion of the acquisition today, full integration of the
companies is well underway. Effective today, all 30 employees of Lipomics
will become part
|SOURCE Tethys Bioscience, Inc.|
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