NovaDx International (Canada) bought in reverse takeover transaction
This article was originally published in Clinica
NovaDx International (Canada), formerly Mortlock Resource, has acquired all outstanding shares of NovaDx (US) in a reverse takeover transaction. California-based NovaDx was founded by former management and scientists of Eli Lilly-subsidiary Hybritech and is developing diagnostic blood tests for bone and collagen diseases, specifically osteoporosis and arthritis. The company estimates that the US and Canadian market for osteoporosis and rheumatoid arthritis testing is at least $140 million a year.