deCODE genetics (Nasdaq:DCGN) today
announced its acquisition of privately-held Icelandic cancer research
firm Urdur, Verdandi Skuld (UVS). The acquisition enables deCODE to
broaden and enhance its cancer program by applying the company's unique
gene discovery and drug development capabilities to an even larger set
of population-based resources.
"UVS has organized cancer research in Iceland since 1998 and has
recruited a large number of patients and controls into their studies.
This acquisition strengthens our ability to use population genetics to
develop better methods to diagnose, treat and prevent cancer. This is
our goal and the goal of the thousands of patients and family members,
as well as the dedicated clinicians and scientists, who have taken part
in our work and that of UVS over the years," said Kari Stefansson, CEO
of deCODE.
deCODE will acquire UVS for $5.5 million that will be paid in deCODE
common stock based on the average closing price for the 30 days
preceding the acquisition.
About deCODE genetics
deCODE (Nasdaq:DCGN) is a
biopharmaceutical company applying its discoveries in human genetics to
the development of drugs for common diseases. deCODE is a global leader
in gene discovery - our population approach and resources have
enabled us to isolate key genes contributing to major public health
challenges from cardiovascular disease to cancer, genes that are
providing us with drug targets rooted in the basic biology of disease.
deCODE is also leveraging its expertise in human genetics and
integrated drug discovery and development capabilities to offer
innovative products and services in DNA-based diagnostics,
bioinformatics, genotyping, structural biology, drug discovery and
clinical development. deCODE is delivering on the promise of the new
genetics.SM Visit us on the web at www.decode.com.
