Visible Genetics acquires European research facility

Canadian company Visible Genetics (VGI), of Toronto, has acquired Virco's international research laboratory in Cambridge in the UK. The deal encompasses the lease on the building, the laboratory assets and most of the research staff of some 25 scientists. The acquisition follows Virco's decision to reorganise the work being conducted in Cambridge and consolidate its operations to its Belgian headquarters.

The Cambridge operation will become VGI's principal international research hub, and will be leading the company's research into new ways of applying genetic information to improve the treatment of a wide range of diseases. 'Through this acquisition, Visible Genetics will greatly expand our r&d capability and accelerate the development of valuable new clinical tools and services for HIV, hepatitis, and oncology,' said Richard T Daly, president and ceo of Visible Genetics.

VGI has also announced the restructuring of its overall r&d operations. The research lab in Toronto will be closed at the end of the year, with the activities split between the Atlanta laboratory and the newly acquired Cambridge facility. Cambridge will focus on research while the Atlanta facility will be primarily involved in kit development and the transfer of newly developed products to manufacturing.