BiOptix has developed a system used by drug discovery scientists that enables label-free real-time detection of biomolecular interactions. The value proposition for pharma and biotech researchers is the ability to understand whether their target molecules have functionality against the target disease much earlier in the discovery process.
The laboratory instrument, the 404pi, utilizes an ultra-sensitive optical technology called Surface Plasma Resonance (SPR) that measures changes in the refractive index on the gold surface of a sensor chip due to a change in mass that occurs in a molecular binding event. These changes can be used to monitor biological interactions.
APPY management will host a conference call tomorrow morning at 8:45 am ET to discuss the deal.
Citing the inability to complete key aspects of their merger agreement, Venaxis (NASDAQ:APPY), Indian genomics firm Strand Life Sciences Private Limited and its U.S. subsidiary Strand Genomics terminate their plans to combine.
Venaxis chief Steve Lundy says his firm is evaluating alternatives and will update investors as soon as possible.