REYKJAVIK, Iceland, Jan. 18 /PRNewswire-FirstCall/ -- deCODE genetics (Nasdaq: DCGN - News) today announced its acquisition of privately-held Icelandic cancer research firm Urdur, Verdandi Skuld (UVS). The acquisition enables deCODE to broaden and enhance its cancer program by applying the company’s unique gene discovery and drug development capabilities to an even larger set of population-based resources.
“UVS has organized cancer research in Iceland since 1998 and has recruited a large number of patients and controls into their studies. This acquisition strengthens our ability to use population genetics to develop better methods to diagnose, treat and prevent cancer. This is our goal and the goal of the thousands of patients and family members, as well as the dedicated clinicians and scientists, who have taken part in our work and that of UVS over the years,” said Kari Stefansson, CEO of deCODE.
deCODE will acquire UVS for $5.5 million that will be paid in deCODE common stock based on the average closing price for the 30 days preceding the acquisition.
About deCODE genetics
deCODE (Nasdaq: DCGN - News) is a biopharmaceutical company applying its discoveries in human genetics to the development of drugs for common diseases. deCODE is a global leader in gene discovery - our population approach and resources have enabled us to isolate key genes contributing to major public health challenges from cardiovascular disease to cancer, genes that are providing us with drug targets rooted in the basic biology of disease. deCODE is also leveraging its expertise in human genetics and integrated drug discovery and development capabilities to offer innovative products and services in DNA-based diagnostics, bioinformatics, genotyping, structural biology, drug discovery and clinical development. deCODE is delivering on the promise of the new genetics.(SM) Visit us on the web at www.decode.com.
Any statements contained in this presentation that relate to future plans, events or performance are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward- looking statements. These risks and uncertainties include, among others, those relating to technology and product development, integration of acquired businesses, market acceptance, government regulation and regulatory approval processes, intellectual property rights and litigation, dependence on collaborative relationships, ability to obtain financing, competitive products, industry trends and other risks identified in deCODE’s filings with the Securities and Exchange Commission. deCODE undertakes no obligation to update or alter these forward-looking statements as a result of new information, future events or otherwise.
Contact:
deCODE genetics
Edward Farmer Joy Bessenger +1 212 343 2819 +1 212 481 3891 info@decode.is ir@decode.is
Source: deCODE genetics