VCCircle

Hyderabad based Ocimum Biosolutions today announced that it has agreed to buy Maryland, US-based Gene Logic's Genomics Business for $10 million in cash. The purchase includes Gene Logic's knowledge products business. They include the genomic database (BioExpress) and other programmes like ToxExpress, Genesis software system and web-enabled products like Ascenta, Sciantis and ToxShield.
As part of the transaction, Ocimum has also acquired Gene Logic's genomic and genetic services business.
Investment bank O3 Capital advised Ocimum on the deal. Ocimum will continue to operate the business out of the current state-of-the-art laboratory facility in Gaithersburg, Maryland. World Bank private equity arm International Finance Corporation had invested $6.5 million in Ocimum last year.