Tuesday, July 26, 2005

Nanogen Invests In Gene Marker Company

San Diego-based Nanogen announced this morning that it has made an investment in Jurilab Ltd., a Finnish company that focuses on the discovery and identification of new genes and gene markers. The investment gives Nanogen rights to develop diagnostic products based on the genes and gene markers discovered by Jurilab. The company said that the initial efforts will be on cardiovascular and metabolic diseases, including adult onset diabetes. The investment is worth $1.25M euros for less than a 20% equity interest, and a provision for full acquisition of Jurilab at Nanogen's election.

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