Response Genetics, Inc acquired substantially all of the assets of Pathwork Diagnostics, Inc. from Abingworth LLP and others for $1.2 million.
August 22, 2013
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Response Genetics, Inc (NasdaqCM:RGDX) acquired substantially all of the assets of Pathwork Diagnostics, Inc. from Abingworth LLP and others for $1.2 million in cash and stock on August 23, 2013. The purchase price consists of issuance of 0.5 million shares of Response Genetics with a lock-up period through June 30, 2014 to two senior secured creditors of Pathwork and a $0.2 million cash payment. Response Genetics is making a public offering of 0.5 million shares of its common stock which would constitute a portion of the purchase price of the acquisition. Response Genetics acquired all intellectual property, know-how, data, equipment and materials of Pathwork including its FDA-cleared, Medicare-reimbursed test for the diagnosis of metastatic, poorly differentiated and undifferentiated cancer. Response Genetics expects the deal to be accretive within its first full year of acquisition. Dorsey & Whitney LLP acted as the legal advisor for Pathwork Diagnostics, Inc.
Response Genetics, Inc (NasdaqCM:RGDX) completed the acquisition of substantially all of the assets of Pathwork Diagnostics, Inc. from Abingworth LLP and others on August 23, 2013.
Response Genetics, Inc. is a life science company. The Company is engaged in the research, development, marketing and sale of pharmacogenomic tests for use in the treatment of cancer. To generate pharmacogenomic information from patient specimens for these tests, the Company uses its own methods for the extraction and analysis of nucleic acids and accessing the genetic information available from each patient sample. The Company's platforms include analysis of single biomarkers using the polymerase chain reaction method, as well as gene interrogation using microarray methods and fluorescence in situ hybridization (FISH) from paraffin or frozen tissue specimens. The Company is engaged in selling ResponseDX diagnostic testing products. The Company provides pharmacogenomic clinical trial testing services to pharmaceutical companies in the United States, Asia and Europe.
RESPONSE GENETICS, INC 
