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GlycoMar reels in seafood testing firm for £260,000
OBAN-based marine biotechnology firm GlycoMar has bought seafood testing company Integrin Advanced Bioystems, it emerged last night.
The financial terms of the deal were not disclosed, but GlycoMar said the package included 260,000 from existing and new investors, including Scottish Enterprise and Highlands & Islands Enterprise.
Integrin was bought as a going concern and its nine staff will transfer to GlycoMar's base at the European Centre for Marine Biotechnology in Oban.
GlycoMar said the services provided by Integrin – including those currently under contract to the Food Standards Agency – will now be provided under the trading name VeroMara.
Dr Charlie Bavington, managing director of GlycoMar, said: "We are delighted to have secured this deal. Revenue generation is vital for the well being of all biotechnology companies."
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