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Source BioScience acquires imaGenes for $3.1 million
January 2011
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BERLIN—Source BioScience recently acquired imaGenes, a developer of genomic products essential for determining and manipulating gene and protein function, for $3.1 million in cash. The Nottingham, England-based life sciences, healthcare and pharmaceutical firm says the deal will help it to expand into European markets, create new cross-selling opportunities and boost its consumer base. Source BioScience also says that its ongoing investment in next-generation DNA sequencing will be complemented by the high-end bioinformatics expertise offered by imaGenes. Dr. Nick Ash, CEO of Source BioScience, says the transaction fits his company's stated objective of continued expansion through targeted acquisitions and development of existing business.

"The acquisition of imaGenes provides a platform for increased penetration of the European life science research and healthcare markets, acting as a catalyst for accelerated growth," Ash adds.

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