Gene Logic forms spin-off company, MetriGenix

Gene Logic has completed a spin-off of its patented Flow-thru Chiptechnology into a new company, MetriGenix, noting that the latter has secured $15 million in initial financing to further develop and commercialize the system.

MetriGenix says it will market and sell the Flow-thru Chip technology, and its associated instrumentation and software, as a multigene screening tool to pharmaceutical, biotechnology and other life science partners. Initial financing for the new entity is being provided by Oxford Bioscience Partners, Burrill Biotechnology Capital Fund, Infineon Ventures and GE Equity, while Gene Logic will initially own 54% of MetriGenix.