DENVER BUSINESS JOURNAL - Strand Life Sciences, an India-based company with a local diagnostics lab, aims to be majority owner of a publicly-traded medical diagnostics company created through a merger with Castle Rock-based Venaxis Inc.
Strand, which is privately held, runs a genetic diagnostics lab located on the Anschutz Medical Campus in Aurora.
Venaxis (Nasdaq: APPY) had been developing technology to help doctors accurately diagnose acute appendicitis.
The merger with Strand Life Sciences will be structured as Venaxis buying Strand in a several-stage transaction over several months. Strand shareholders will ultimately own 68 percent of the combined business and Venaxis shareholders, if they approve the proposed deal, will own a 32 percent stake, the companies said.
Read more at the Denver Business Journal: http://bit.ly/1QszF7b
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