Nerveda acquires DioGenix

Nerveda (San Diego, Calif.) purchased Ore's DioGenix molecular diagnostics subsidiary for $1.3 million in cash. DioGenix's lead product, a blood-based molecular diagnostic for multiple sclerosis (MS), is slated to begin Phase II testing in 4Q08. Nerveda said the acquisition complements its neurology focus, which includes undisclosed neuroprotective compounds in preclinical testing to treat early stage MS and HIV dementia. Ore is eligible for up to $1.5 million in royalties on the MS diagnostic. Larry Tiffany will remain president and CEO of DioGenix, which will operate as a subsidiary of Nerveda. ...