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August 29, 2007

Gentris Divests Diagnostics Business

  • Gentris has sold the assets of its diagnostic business arm, Gentris Diagnostics, forming a new company, ParagonDx. The stand-alone company will focus on developing molecular diagnostic products for laboratories.

    “Molecular diagnostics is an emerging market,” Sorge said. “Small, nimble companies such as ParagonDx will be able to adapt to rapidly changing conditions and bring tests to market that will actually help patients.”

    Among the key assets ParagonDx gained are the first six FDA-cleared human genomic reference controls and 46 other reference control products currently being sold to laboratories and diagnostic product developers.

    The company also purchased a new in vitro diagnostic test to determine a safe starting dose of warfarin. This is of particular importance, as on August 16, the FDA updated warfarin’s label to include genetic testing information.

    Joe Sorge, founder and former CEO of Stratagene, has assumed a controlling interest in ParagonDx. Gentris will retain a minority stake in the new company.

  • Finally! A cure for the Biotech News Blues.

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