The company has acquired Parkway for an aggregate purchase price of $2.9 million, consisting of $1.9 million in cash and $1 million of Rosetta’s ordinary shares. An additional $300,000 will be payable upon the achievement of certain milestones.
The acquisition is expected to allow Rosetta Genomics to expedite development and validation of its microRNA-based diagnostic tests both in the US and worldwide. In addition, ownership of the CLIA-certified lab will allow Rosetta Genomics to control the commercialization of its diagnostics, including marketing, sales, and reimbursement strategy.