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news.Tethys Bioscience, a personalized medicine company, has acquired Lipomics Technologies of West Sacramento, California. The acquisition will be finalized upon completion of customary closing conditions. Financial terms were not disclosed.
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With completion of the acquisition, full integration of the companies is well underway. All 30 employees of Lipomics will become part of Tethys.
Steven Watkins, co-founder, president and chief scientific officer of Lipomics, will assume the role of chief technology officer at Tethys. The Lipomics facility will continue its comprehensive and quantitative profiling of lipid metabolites as Tethys West Sacramento.
The acquisition brings together Lipomics’s metabolite profiling technology with Tethys’s proven expertise in the use of protein biomarkers to create novel tests capable of accurately predicting a person’s likelihood of developing chronic diseases.
Tethys launched its first such test – the PreDx diabetes risk test – earlier in 2008, and is working to develop similar tests that will predict a person’s likelihood of experiencing an osteoporotic bone fracture or a major cardiac event.
Mickey Urdea, founder, chairman and CEO of Tethys, said: “We believe that the best solutions for predicting and thereby preventing a range of chronic conditions will come from the thoughtful integration of multiple types of biomarkers – including proteins and metabolites. The addition of Lipomics furthers our goal of arming patients and physicians with insights that will help reduce the incidence of preventable chronic diseases.”