PathoGenetix assets acquired ahead of commercialisation
It now owns all Intellectual Property and proprietary designs of the RESOLUTION System prototypes.
Performance of the system, based on Genome Sequence Scanning (GSS) technology, has been shown through collaborations with government agencies such as the CDC and FDA.
Toxic Reports, who offers analytical services for rapid testing of persistent organic pollutants (POPs) in food and environmental, sealed the deal for the developer of the automated system for rapid bacterial identification for an undisclosed amount.
GSS technology isolates and analyzes DNA from an enriched biological sample, without the need for a cultured isolate, and provides results in five hours.
Toxic Reports is proceeding with the design and manufacture of the full commercial model of the RESOLUTION System and plans to begin selling to customers in March, 2015.
Initial applications of the RESOLUTION System will focus bacterial pathogen identification in the food safety and public health/epidemiology markets.
PathoGenetix filed for Chapter 7 bankruptcy in July last year and notice to sell all assets was made in August, according to documents from the District Court of Massachusetts.
