Clinical Data buying Genaissance

In a move to penetrate the molecular diagnostics market, Clinical Data has struck a deal to buy Genaissance Pharmaceuticals for $56 million in stock. Clinical Data makes diagnostic tools for laboratories and doctors offices and sees the acquisition as a natural fit. After the deal closes, Genaissance shareholders will own about 40% of the combined company. Genaissance has two molecular tests on the market with several more in development.

- read this story from the AP for more

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