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Nanogen acquisition

This article was originally published in The Gray Sheet

Executive Summary

Diagnostics firm Feb. 7 completes acquisition of Spectral Diagnostics' rapid cardiac immunoassay business, which includes the Cardiac STATus cardiac marker tests and the i-Lynx test reader. Nanogen, which has not yet cleared its StatusFirst NT-proBNP congestive heart failure test with FDA, notes that the two lines generated sales of about $6 mil. for Spectral in 2005. Nanogen's $7.8 mil.-purchase also includes Spectral's related intellectual property, manufacturing capabilities and approximately 50 employees. Spectral retains its rapid Endotoxin Activity Assay (EAA) for the diagnosis of sepsis and West Nile Virus (WNV)IgM STATus test, for which it is seeking FDA approval by the 2006 summer season...
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