Serologicals buys UK firm Cytomyx for around $7M

USA-based Serologicals has reached a definitive agreement to acquire Cambridge, UK-headquartered Cytomyx Ltd, from parent Cytomyx Holdings, a provider of ion-channel cell lines and drug discovery services. Although the US firm did not release financial details, it is thought that it is paying around $7.0 million for the company. Cytomyx has 23 distinct ion-channel cell lines commercially available and more in its pipeline. The deal, expected to close this quarter, is forecast to be accretive in the 2006 fiscal year.