ESPERITE acquires InKaryo, US start-up specialised in Bioinformatics for genetic diagnostics and molecular cytogenetic tests
ESPERITE’s strengthens its diagnostic tests to top the market with eKaryotype, electronic whole-genome Karyotype test for liquid biopsy.
Esperite welcomes Xitong li, Ph.D., ex-Verinata Illumina Director of Bioinformatics.
Geneva, Switzerland – 19 March 2015
ESPERITE announces the acquisition of InKaryo, the US-based company from Silicon Valley specialized in cytogenetic analysis through next generation sequencing (NGS). ESPERITE incorporates Xitong Li, Ph.D., —former Director of Bioinformatics at Verinata Illumina— to its expert team to advance molecular diagnostics and translate breakthrough technology into high quality wider scope and affordable genetic tests to top the predictive and personalized medicine sector. This acquisition avails ESPERITE the most advanced bioinformatics analytical processing of NGS data for the detection and quantification of chromosomal numerical and structural abnormalities, improving and expanding the performance and resolution of the entire present and future genetic tests portfolio. Pursuant to the transaction, ESP will acquire the Inkaryo shares at a purchase price of USD260,000, and assume its obligations under its 2-year 6% USD 280,000 convertible bond due May 2015. Except for a small USD40,000 cash payment on completion, ESP is entitled to pay the purchase price in shares. If it elects to do so, the Sellers collectively will receive 73,530 new ESP shares. ESP is entitled to convert the convertible bond in ESP shares at a conversion price of EUR2.99.
ESPERITE will top the genetic tests market by analysing the entire genome for all chromosomal and sub- chromosomal abnormalities applicable to pre-natal genetic analyses, identification of causes of genetic disorders and high resolution tumor characterization.
ESPERITE is proud to incorporate Xitong Li, Ph.D., to its team to drive the company’s scientific development. With a distinguished career in bioinformatics in the US spanning over 15 years, Xitong Li brings his experience in architecting solutions and delivering biomarker and genomic-based clinical diagnostic products to Genoma and ESPERITE. Before founding InKaryo, he was the Director of Bioinformatics at Verinata Illumina, Associate Director of Bioinformatics for Genomic Health, and contributed to Ingenuity Systems and Novartis Pharmaceuticals Corp. He received his Ph.D. in Cellular, Molecular and Developmental biology from the University of Rochester.
Xitong Li, founder of InKaryo:
We are committed to make high accuracy diagnostics affordable to people around the world by leveraging the next generation sequencing platform. We are excited to join ESPERITE to make our bioinformatics solutions widely available through GENOMA’s genomic tests and develop its new products, setting new standards of healthcare.
Frederic Amar, CEO of ESPERITE:
The acquisition of InKaryo and its strong background strengthens our strategy to drive scientific development and our ability to create a solid pipeline of genetic tests.
ESPERITE group, listed at Euronext Amsterdam and Paris, is a leading international company in regenerative and predictive medicine since 2000, operational in 40 countries with a network of 6,000 clinics worldwide. ESPERITE serves clients in its state-of-the-art lab facilities in Geneva coupled with ultra-modern processing and storage facilities in Belgium, Switzerland, Germany, Dubai, South Africa and Portugal. Its family stem cell bank, CryoSave, stores almost 275,000 samples from umbilical cord blood and cord tissue.