Nanogen Seeks Other Suitors

Xconomy San Diego — 

San Diego diagnostics firm Nanogen (NASDAQ:NGEN) says that it has clearance to seek options other than its announced merger with French diagnostics company Elitech Group. (Nanogen is noteworthy in part because of its well-known CEO, Howard Birndorf, who co-founded Hybritech, Gen-Probe, and Ligand Pharmaceuticals.) Nanogen now has permission to pursue such options as a restructured deal with Elitech, sale of assets to a separate concern, and a large financing.