Freeze my puppies
Wednesday, 23 July, 2008
Genetic Technologies [ASX: GTG] has acquired Frozen Puppies Dot Com, Australia's foremost provider of canine reproductive services.
The NSW-based company uses proprietary methods of canine semen collection freezing and insemination, allowing the company to deliver a conception rate of over 90 per cent.
It targets the show dog and greyhound breeding markets.
Under the agreement, GTL will obtaining a 100 per cent share in the company, and will in return be giving Frozen Puppies shareholders around 12.2 million GTG shares and over $153,000 in cash.
GTG caused a storm last week when it announced it was enforcing its patent rights to BRCA1 and BRCA2 diagnostic testing.
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