Incyte Pharmaceuticals Inc., Genome Systems Inc. deal

INCY acquired Genome Systems for 200,000 shares of common stock. The acquired company provides genomic research products and services to assist in the identification and isolation of genes. INCY said the acquisition will enable it to build on its mapping database, LifeSeq Atlas, by determining the location of all of INCY’s genes and integrating those data with public domain gene mapping data. Genome Systems has large DNA insert libraries and clones, including human BAC (bacterial artificial chromosome) libraries. Services include custom robotic services, contract DNA preparation, high throughput genomic screening and fluorescent in-situ hybridization (FISH).

Genome Systems was profitable in 1995, with sales of $2 million. It will become a wholly owned subsidiary of INCY, and will retain its name and its current operations. ...