Gen-Probe supply/service news

Gen-Probe spun off its industrial testing assets into newco Roka Bioscience Inc. Roka will develop and market molecular assays for biopharmaceuticals production, water and food safety testing, veterinary, environmental and bioterrorism applications, with rights to Gen-Probe's Closed Unit Dose Assay (CUDA) testing system for these uses. Gen-Probe will own 19.9% of Roka and is eligible for royalties on Roka products. OrbiMed Advisors, TPG Biotechnology and New Enterprise Associates will provide Roka with up to $37.2 million in equity funding. Paul Thomas will be CEO of the newco. Thomas was formerly chairman, president and CEO of LifeCell Corp. prior to its sale to Kinetic Concepts Inc. (NYSE:KCI, San Antonio, Texas). ...