NEWTON, Mass.--(BUSINESS WIRE)--Clinical Data, Inc. (NASDAQ:CLDA) today announced the sale of Vital Scientific B.V., to the ELITech Group of Puteaux, France. Under terms of the agreement, ELITech will acquire Vital Scientific, a Netherlands-based in vitro diagnostics (IVD) business, for $15 million in cash. In addition, Clinical Data will retain approximately $4.5 million in cash from Vital Scientific immediately prior to the sale. Drew Fromkin, President & CEO of Clinical Data, said, “For the past year, we have been implementing a strategic plan to divest the IVD component of Clinical Data in order to devote all of our resources to our IP-driven pharmacogenomics tests and targeted therapeutics, as well as our genomics services division. The sale of Vital Scientific is the latest and most significant step in our successful execution of this plan and substantially completes our transformation into a leader in the genomics industry.”
