Morrisville-based Gentris, which provides storage and testing services to research laboratories, has received a $4.75 million buy-out offer from New Jersey-based Cancer Genetics, Inc. (CGI).

CGI, which trades on the Nasdaq stock exchange under the symbol CGIX, said Monday it’s buying the privately held Gentris to expand its reach into pharmacogenomics, which focuses on how an individual’s DNA responds to drugs. CGI has tests that show the genetic makeup of specific cancer tumor systems, while Gentris tests can show how specific patients can be expected to react to certain chemotherapies, based on the individual’s DNA profile.

Gentris, which employs 40 people, was founded in 2001 by Michael Murphy, who will serve as general manager during its integration with CGI. [Murphy had left Gentris several years ago but recently was named to the company board.]

The sale includes Gentris’ satellite laboratory in Zhangjiang Hi-Tech Park, Shanghai, China.

Gentris is a portfolio company of the North Carolina Biotechnology Center. NCBiotech funded part of a two-year Industrial Fellowship position in 2012 and 2013, to expose a postdoctoral scientist to commercial research.

“By combining our expertise with Cancer Genetics, we expand the opportunity to service the large, global pharmaceutical companies that already are our customers and also bring together the analysis of somatic and germline genetic changes that drive cancer growth and treatment response,” said Tim Gupton, chairman and board member of Gentris.

Panna Sharma, CEO of CGI, said, “Gentris has world class expertise in pharmacogenomics that will be highly complementary to our existing oncology diagnostic business. We view this acquisition as part of our long-range strategic plan to deepen our capabilities in developing unique and individualized treatment insights in oncology. Gentris will add immediate incremental revenue and, through its established client base and relationships, will give us tremendous access to the biotech and pharmaceutical communities.”

The acquisition is an effort by CGI to improve on the disappointing overall picture of chemotherapy, widely recognized as overly toxic and expensive while producing few actual cures.

(C) NC Biotechnology Center

Note: Jim Shamp is director of media relations for the N.C. Biotechnology Center