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Venaxis, Inc.NASDAQ
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  • Tue, Sep. 13, 9:59 PM
    • In vitro diagnostics outfit Venaxis (NASDAQ:APPY) acquires Boulder, CO-based BiOptix Diagnostics for an undisclosed sum.
    • 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.
    | Tue, Sep. 13, 9:59 PM
  • Mon, Mar. 14, 5:42 PM
    • 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.
    • Previously: Venaxis to merge with Strand Life Sciences (Jan. 26)
    | Mon, Mar. 14, 5:42 PM
  • Tue, Jan. 26, 7:38 PM
    • Venaxis (NASDAQ:APPY) intends to merge with privately held Indian genomics firm Strand Life Sciences Private Limited. Assuming 100% participation from Strand shareholders, Strand will own 68% of the combined company, Strand Life Sciences, and Venaxis shareholders will own 32%.
    • To comply with certain long-term holding period requirements under Indian tax law, the transaction will be completed in two closings. The first will happen after the Venaxis shareholders approve the deal, the receipt of all other approvals and the satisfaction of closing conditions. The second will occur about six months later. At each closing, Venaxis will enter into resale registration rights agreements with the Strand shareholders participating in the closing.
    • Venaxis will continue its efforts to secure a partner to advance the development and commercialization of its appendicitis portfolio.
    • Strand Executive Chairman Dr. Vijay Chandrou will serve as Executive Chairman of the combined firm with Venaxis' chief Steve Lundy serving as CEO and Jeff McGonegal as CFO.
    • Management will host a conference call tomorrow morning at 8:30 am ET to discuss the deal.
    | Tue, Jan. 26, 7:38 PM | 1 Comment