Tuesday, May 21, 2013
Ignyta Buys Actagene Oncology
San Diego-based biotechnology developer Ignyta has acquired fellow, San Diego biotechnology developer Actagene, a developer of personalized medicines based on cancer genome mining and sequencing. Financial details of the acquisition were not disclosed. Ignyta said that Actagene Oncology had been founded in February of this year. The company has brought on a significant base of talent with the acquisition, including hiring Patrick O'Connor, CEO of Actagene, who becomes Chief Scientific Officer and SVP, Head of Research. O'Connor was previously at Pfizer, and Actagene's other executives had served as such companies as Halozyme, Valeant Pharmaceuticals, Merck Research, Agouron PHarmaceuticals, Pfizer, and Warner-Lambert/Parke Davis.