1 min readdeCODE Expands Cancer Program

deCODE genetics, a biopharmaceutical company applying its discoveries in human genetics to the development of drugs for common diseases, has unveiled its acquisition of privately-held Icelandic cancer research firm Urdur, Verdandi Skuld (UVS).

deCODE genetics, a biopharmaceutical company applying its discoveries in human genetics to the development of drugs for common diseases, has unveiled its acquisition of privately-held Icelandic cancer research firm Urdur, Verdandi Skuld (UVS). According to deCODE, this allows it to broaden and enhance its cancer program by applying the company’s gene discovery and drug development capabilities to an even larger set of population-based resources. deCODE will acquire UVS for $5.5 million that will be paid in deCODE common stock based on the average closing price for the 30 days preceding the acquisition.

“UVS has organised cancer research in Iceland since 1998 and has recruited a large number of patients and controls into their studies. This acquisition strengthens our ability to use population genetics to develop better methods to diagnose, treat and prevent cancer. This is our goal and the goal of the thousands of patients and family members, as well as the dedicated clinicians and scientists, who have taken part in our work and that of UVS over the years,” said Kari Stefansson, CEO of deCODE.

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