Ocimum buys Gene Logic's genomic biz

US-based Ocimum Biosolutions Inc, a provider of bio-IT and genomic services with its Indian headquarters located in Hyderabad, has announced the acquisition of US-based Gene Logic's  genomic business for $10 million in cash.

Gene Logic offers drug development solutions to the pharmaceutical industry.

The purchase includes Gene Logic's knowledge products business, which is anchored by the world's largest databases of human biology and response to treatment integrated with the genesis software system, according to a press release issued by Ocimum Biosultions.

As part of the transaction, Ocimum has also acquired Gene Logic's comprehensive genomic and genetic services business that provides customers with access to a bio-repository of over 80,000 samples, the release added.

"Gene Logic has a wonderful track record and a great scientific team," Anuradha Acharya, chief executive officer of Ocimum Biosolutions, said. With this acquisition, the combined strengths of Ocimum and Gene Logic Genomics will make the company an obvious choice for partnering, she added.