Clinical Data, Inc. Completes Sale of Cogenics Genomics Services Division to Beckman Coulter, Inc.
Published: Apr 15, 2009
NEWTON, Mass.--(BUSINESS WIRE)--Clinical Data, Inc. (NASDAQ: CLDA) announced today that it has completed the sale of Cogenics, the Company’s genomics services division, to Beckman Coulter, Inc. for $17.0 million. As previously announced, the sale achieves Clinical Data’s goal to monetize non-core assets and focus resources on advancing its two late-stage targeted therapeutic programs, each of which have anticipated near-term milestone events. These significant events include completing a second Phase III registration trial and planned new drug application (NDA) filing for vilazodone™, a first-in-class drug candidate for the treatment of depression, and the initiation of a Phase III clinical program for Stedivaze™, a potential best-in-class cardiac stress agent.