Healthcare firm Sedia Biosciences and biotechnology company Floragenex have announced the merger of their companies.
Details of the transaction were not disclosed.
Sedia will continue the business of Floragenex as a wholly-owned subsidiary with current Floragenex Chief Executive Officer, Dr. Rick Nipper continuing oversight of the new subsidiary.
Floragenex, Inc., a genomics testing service provider focused on next-generation DNA sequencing, was founded in 2007 as a spin out of the University of Oregon, while Sedia Biosciences, founded in 2009, develops and commercializes point of care diagnostics in human diseases, including HIV.
The combined company will continue to provide genomic services for scientific customers and testing solutions for HIV and other infectious agents.
“The merging of Sedia and Floragenex creates a compelling strategic transaction for our combined shareholders and the capability to deliver leading-edge technological innovation to our current and future customers,” said Roger Gale, Chairman and Chief Executive Officer, Sedia Biosciences.
“The merger will also yield many synergies and benefits in the months and years ahead. Specifically, it will strengthen and diversify our scientific capability across both immuno- and molecular (DNA) diagnostic technologies; broaden our potential product range; expand access to the plant and animal kingdom markets; accelerate development of next generation products; and strengthen sales and marketing, business development, and strategic planning.”
“The merger with Sedia Biosciences will help expand Floragenex’s expertise in the product and diagnostic spaces while helping to grow our existing genomic services business,” said Rick Nipper, Chief Executive Officer, Floragenex.
Dr. Ronald Mink, President and Chief Sciences Officer of Sedia Biosciences, added, “The medical diagnostics market has rapidly developed intense interest in the application of molecular biology technology to novel point-of-care testing approaches.”
Sedia Biosciences is a U.S.-based healthcare company focused on the development and commercialization of novel in vitro diagnostic and epidemiological tests including the Sedia LAg-Avidity EIA and BED HIV-1 Incidence EIA.
Floragenex is a privately owned Oregon-based biotechnology company providing innovative solutions for genomic analysis in human, plant and animal systems.
Since 2007, Floragenex has delivered impact results in hundreds of genomics studies focused on answering fundamental questions in genetics, ecology, evolutionary biology and biomedical research.