Gene Testing Lab Buys UBiome Patents, Samples For $7M

Law360 (January 3, 2020, 6:12 PM EST) -- Gene sequencing laboratory Psomagen Inc. has announced it has purchased the patents, data and equipment of bankrupt fecal testing firm uBiome Inc. for just over $7 million.

In an announcement released Thursday, Maryland-based Psomagen said the assets it acquired at uBiome's bankruptcy auction included 60 patents, the company's lab equipment and nearly 300,000 samples.

"Through the move, Psomagen has become a key player in the microbiome sector, a promising next-generation bio health care industry, with a competitive advantage in the U.S. and global markets," the company said in the announcement.

UBiome, founded in 2012 to provide mail-in fecal testing services, filed...

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