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Genizon BioSciences

Genizon Biosciences Acquires Assets from Global Genomics to Accelerate the Discovery of Disease-Causing Mutations and Targets

Montreal, Canada (ots/PRNewswire)

Genizon BioSciences, Inc., a
Montreal-based gene and drug target discovery company, announced
today it has acquired the majority of the assets and staff of
Sweden-based Global Genomics AB. Through this transaction, Genizon
has gained access to a novel sequencing technology, five related
patents/patent applications and proprietary algorithms for data
analysis.
Dr. John Hooper, President and CEO of Genizon commented:
"The platform and staff of Global Genomics provide great potential
for Genizon to reduce from months to weeks the time required to
identify disease causing mutations at gene locations identified in
our whole genome association studies. We expect this acquisition will
produce substantial additional value-generating capability for our
company. The Global Genomics technology also shows considerable
promise for inexpensive whole genome resequencing."
The key scientific personnel at Global Genomics, including the two
founders Dr. Sten Linnarsson, CTO and Professor Patrik Ernfors,
together with the majority of the company's existing staff, will be
joining Genizon to pursue the further development and validation of
the sequencing technology.
Commented Dr. Linnarsson:
"We are proud to be joining Genizon, a global leader in the
discovery of key disease-causing genes and therapeutic targets. We
believe there is strong synergy between our highly cost effective
sequencing technology and Genizon's industrialized gene and target
discovery process."
Through the transaction, Genizon is also acquiring laboratory
and computer equipment and significant cash.
About Genizon BioSciences Inc.
Genizon BioSciences (www.genizon.com) is a biotechnology company
dedicated to the discovery of genes and biomarkers associated with
the root cause of common diseases and drug response. Through the
discovery of key disease-causing genes, Genizon and its pharma and
biotechnology partners will accelerate the identification and
validation of new and better targets for the development of
innovative new therapeutics and diagnostics. Additionally, Genizon's
pharmacogenomics capabilities to stratify patient populations and
evaluate drug response further accelerate the clinical development of
drug candidates. Genizon has initiated more than 20 gene discovery
programs in several major therapeutic areas including autoimmune,
inflammation, metabolism, CNS, respiratory, gastrointestinal,
ophthalmology, dermatology, and women's health.
In recognition of the contribution to Genizon's research made by
the population of Quebec, the company has committed to donate three
per cent of its net profits to a foundation for the benefit of
Quebecers.

Contact:

Contacts: Caroline Fortier, Vice President, Corporate Development,
Genizon BioSciences Inc., +1-514-708-4417,
caroline.fortier@genizon.com; Henry Bretecher, Chief Financial
Officer, Genizon BioSciences, Inc., +1-514-270-3991 ext. 230,
henry.bretecher@genizon.com

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