Imogene (makes lyme tests) acquired in $22.2M Deal

Not sure what this means yet... They also created a vaccine, I believe, but I don't think it was approved by the FDA and funding was pulled due in most part because of what happened with the GlaxoSmithKline vaccine. My understanding was that the lyme vaccine investment was a big deal. Usually, acquisitions like this don't occur unless there is huge opportunity for profit... so my inquisitive side wants to know what the company leadership knows about the future of Imugene's testing and vaccine development...

www.streetinsider.com/Corporate+News/Oxford+Immunotec+(OXFD)+to+Acquire+Imugen+in+$22.2M+Deal/11769227.html

Excerpt:
"Oxford Immunotec Global PLC (Nasdaq: OXFD), a global, high-growth diagnostics company focused on developing and commercializing proprietary tests for the management of immune-regulated conditions, today announced it has entered into a definitive agreement to acquire substantially all of the assets of Imugen, Inc., a Massachusetts-based clinical laboratory focused on developing and performing specialized testing for tick-borne diseases, for $22.2 million in an all cash transaction expected to close on July 1, 2016."

and

"“Imugen’s extensive experience and proprietary tick-borne disease testing capabilities are very complementary to Oxford Immunotec’s portfolio of products and services,” said Victor Berardi, Chief Executive Officer of Imugen. “We are excited to combine our testing capabilities with Oxford’s commercial and R&D resources to grow the Imugen business.”"

-p

Post Edited (Pirouette) : 6/24/2016 8:14:54 PM (GMT-6)

I didn't listen to it - they're usually painfully monotonous and mainly the CEOs filling shareholders' heads with visions of profits cnd sugarplums... Not a whole lot of valid info. But you never know...

-p