Romer Labs will acquire SDIX’s (Nasdaq: SDIX) food safety and genetically modified organism business for $13.5 million.
Romer Labs, based in Washington, Mo., will purchase the intellectual property, inventory and contracts of the businesses. Current staff will stay in place. Genetically modified organisms are typically crops, such as soybeans or corn.
SDIX, a biotechnology company headquartered in Newark, Del., will focus on its life sciences business. The company’s technology is used to help discover and diagnose diseases, as well as facilitate drug development.