Nanobac to acquire DNAPrint Genomics

Florida-based Nanobac Pharmaceuticals has signed a letter of intent buy fellow US firm DNAPrint Genomics. With the acquisition, which is subject to DNAPrint shareholders' approval, Nanobac becomes one of a select group of next-generation drug and diagnostics developers, applying advanced computational methods and systematic genome-based approaches to streamline clinical product development. Nanobac adds advanced drug and diagnostics development programs, key patents and patent applications, and a proprietary product modeling platform to its existing initiatives. It also expands its focus into multiple disease sites for both diagnostics and therapeutics. Financial terms were not revealed.

The combined company would have annualized revenue of approximately $5.0 million, developing drug pipeline and product development collaborations with Harvard/Beth Israel Deaconess Medical Center, Mayo Clinic, Cleveland Clinic and Emory University.

DNAPrint has developed, patented and published various technologies for an improved, 21st century model of clinical product development - aimed at maximizing effectiveness, minimizing unintended effects, reducing costs and shifting the risk to reward ratio during clinical product development. These tools include extensively validated and published genome assays for individualized assessments of genetic ancestry on multiple levels (consumer products segment), tools for the inference of physical characteristics for the forensics market, tools for the inference of patient proclivities to respond to treatments (pharmacogenomics) and meta-analytical systems for computationally modeling the biology of clinical products for a more intelligent approach to drug and diagnostic development.