Ocimum acquires Gene Logic’s genomics division
7 January 2008Tweet
Ocimum Biosolutions has acquired the genomics division of Gene Logic and raised capital from Kubera Cross Border Fund (KUBC) for an equity investment of up to $17m, including a pro rata investment by affiliates of Kubera Partners.
Ramanan Raghavendran, managing partner at Kubera Partners, said: ‘We believe genomics outsourcing is at the cusp of significant growth, given the demands on the drug discovery function for labs around the world.’
Anuradha Acharya, CEO of Ocimum, said: ‘We were looking for a partner that apart from providing growth capital and acquisition financing has a similar footprint to ours and can understand our business and our global customer service and delivery model.’
Ocimum will retain the Gene Logic name and continue to service customers from Gaithersburg.
Acharya added: ‘We aim to be the number one genomics outsourcing company in the world. We will leverage our global positioning and Gene Logic’s branding and scientific leadership in toxicogenomics, pharmacogenomics and clinical genomics to become a partner of choice for our customers.’