The Denver Post - - BUSINESS -

Pub­licly traded Ve­naxis, a Cas­tle Rock de­vel­oper of tests for acute ap­pen­dici­tis, said Tues­day it plans to ac­quire Strand Life Sci­ences, a can­cer ge­nomics firm with its U. S. head­quar­ters in Aurora.

Ve­naxis plans to ac­quire shares of pri­vately held Strand. The com­pany will trade on the Nas­daq but will op­er­ate un­der the Strand name.

If Strand share­hold­ers ap­prove, the deal would give the com­pany the fi­nan­cial re­sources to ex­pand de­vel­op­ment of prod­ucts such as StrandAd­van­tage, a test that can an­a­lyze ge­nomic changes in solid tu­mors and gen­er­ate a list of fed­er­ally ap­proved treat­ment op­tions and clin­i­cal tri­als.

Ve­naxis will close its Cas­tle Rock of­fice, where 15 peo­ple work, and move the com­pany to the Univer­sity of Colorado An­schutz Med­i­cal Cam­pus, where In­di­a­based Strand opened its 20- em­ployee U. S. head­quar­ters in April.

“The plan is to sig­nif­i­cantly grow the busi­ness in the U. S., which will con­tinue to be based in the Aurora fa­cil­ity,” Ve­naxis CEO Steve Lundy wrote in an e- mail.


Newspapers in English

Newspapers from USA

© PressReader. All rights reserved.