Genospectra signs agreement with Sigma-Aldrich, merges with Panomics

By Lisa Kerner

Erie, Pa., Feb. 10 - Sigma-Aldrich has signed a series of agreements with Genospectra that expands its position in the areas of RNA Interference (RNAi), gene expression and cell based assays, according to a company news release.

As a result, Sigma-Aldrich acquires a minority equity stake in Genospectra and is granted access to various Genospectra technologies, including the QuantiGene gene expression profiling assay and Genospectra's technologies for inducible siRNA, a unique nano-particle system for delivery of siRNA and other biomolecules to cells.

The companies will also work together to develop new technology and products in the area of cell-based assays, particularly novel live cell biosensor assay reagents.

Sigma-Aldrich will receive licenses to commercialize the inducible siRNA and delivery technologies and distribution rights to the QuantiGene product line, the release stated.

In a related move, Genospectra announced that it is merging with Panomics, Inc., a privately held life sciences tools company, under the new company name Panomics.

Sigma-Aldrich joined as a new strategic investor and partner as Genospectra closed a $12.2 million round of financing, according to a company news release. Certain existing investors and affiliates of both companies, led by Battelle Ventures, also participated in the series C financing.

The goal of the new company is to provide an integrated pipeline of products, including Parallel Quantitive Biology products, for basic life science research and applications such as cell signaling, RNAi-mediated gene silencing and high performance assays, clinical biomarker discovery and predictive toxicology.

Dr. Frank Witney of Genospectra will serve as the new company's chief executive officer, and Dr. George Li, founder and former chief executive officer of Panomics, Inc., will assume the role of the new company's chief operating officer, the release stated.

George Lee of Amkey Ventures joined the Genospectra board of directors, which will become the new company's board. The new Panomics will move from Redwood City, Calif., to Genospectra's existing facilities in Fremont, Calif.

Sigma-Aldrich's biochemical and organic chemical products and kits are used in scientific and genomic research, biotechnology, pharmaceutical development, the diagnosis of disease and in pharmaceutical and high technology manufacturing. The company is based in St. Louis.

Genospectra is a privately held life sciences company developing technologies and products for parallel quantitative biology. The company is based in Fremont, Calif.

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