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news.Asterand has acquired BioSeek, a company in the application of predictive human biology to drug discovery through its unique human primary cell based disease models.
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The Acquisition was finalised after the approval by Asterand’s shareholders at an extraordinary general meeting held on February 18, 2010, where all resolutions put to shareholders were duly passed. BioSeek is now a new entity and a wholly-owned subsidiary of Asterand.
Application has been made for the 2,695,856 ordinary shares of Asterand issued by the company in satisfaction of the initial consideration of the Acquisition to be admitted to the main market of the London Stock Exchange and trading in the Ordinary Shares is expected to commence on 23 February 2010.
Martyn Coombs, CEO of Asterand, said: “It is exactly three months since we first announced this deal and we can’t wait to offer a new, broader line of products and services to our customers based on the BioSeek technology, which is so complementary to Asterand. This acquisition is about growth and supplying real value-added services to our drug discovery clients. The BioSeek and Asterand teams look forward to working closely together to expand and grow the combined business.”