Life Sciences, deals, Diagnostics

Nanogen Seeks Other Suitors

Ryan McBride 1/21/09

San Diego diagnostics firm Nanogen (NASDAQ:NGEN) says that it has clearance to seek options other than its announced merger with French diagnostics company Elitech Group. (Nanogen is noteworthy in part because of its well-known CEO, Howard Birndorf, who co-founded Hybritech, Gen-Probe, and Ligand Pharmaceuticals.) Nanogen now has permission to pursue such options as a restructured deal with Elitech, sale of assets to a separate concern, and a large financing.

Ryan McBride is Xconomy's correspondent. You can reach him at rmcbride@xconomy.com, or follow him on Twitter at http://twitter.com/Ryan_McBride.