Madison, WI-based Nimblegen Systems, a gene chip maker, has been scooped up by Roche for $272.5 million. The University of Wisconsin spin-off had been planning an IPO which it had filed for last March. The company's technology uses high density DNA microarrays to illuminate drug targets and gives Roche a bigger presence in the DNA sequencing field.
"This acquisition represents a further milestone in our strategy to strengthen our position as a major player and complete solution provider in the genomics research market," Severin Schwan, the head of Roche's diagnostics unit, said in a statement.
- read the report from The Capital Times
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