BioCentury
ARTICLE | Company News

Axial Biotech, Transgenomic deal

September 3, 2012 7:00 AM UTC

Transgenomic will acquire assets and IP related to Axial's ScoliScore Adolescent Idiopathic Scoliosis (AIS) Prognostic Test for about $4.4 million in cash. The PCR-based genetic test is approved in the U.S. to determine the risk of spinal curve progression in AIS patients ages 9-13. Transgenomic said the deal provides an established revenue and customer base and believes it will contribute positively to earnings by year end. The deal is expected to close on or before Oct. 1, subject to approval from Axial's shareholders and termination of certain of Axial's agreements related to ScoliScore. ...