The company said that its management team and venture capital investors EquiNet EarlyStage Capital and S-REFIT AG have agreed to sell their shares to Applied Biosystems Deutschland GmbH, the German subsidiary of Life Technologies.
The agreement gives Applied Biosystems Deutschland approximately 58 percent of GeneArt's shares.
In addition, GeneArt said that Applied Biosystems Deutschland is planning a voluntary public tender offer for the remaining shares.
This is the second major announcement this quarter to put the global company in a solid leadership position in the gene sequencing race, both in the US and Europe. The first was a partnership with the Ignite Institute for Individualized Health to create a sequencing center in the US. Ignite acquired 100 of the company's Applied Biosystems SOLiD(TM) Systems, which they plan to use for research on diseases as such cancers and diabetes; neurological disorders such as Alzheimer's; cardiovascular diseases such as myocardial infarction and stroke, and autism spectrum disorders.
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