Paw Print Genetics acquired by Neogen
Michigan-based company buys Lisa Shaffer’s latest Spokane-based venture
Virginia ThomasJanuary 13th, 2022
Paw Print Genetics, the Spokane-based animal genetic testing company, has changed hands.
Lansing, Michigan-based Neogen Corp. acquired Genetic Veterinary Sciences Inc., which does business as Paw Print Genetics, in a transaction that was completed last month.
Catherine Kashork, site director for Paw Print Genetics, says Paw Print founder Lisa Shaffer will serve as a consultant for Neogen, which intends to preserve the brands developed by Genetic Veterinary Sciences.
Paw Print offers genetic disease testing and analysis for dogs, cats, and birds. The company was established in 2013 and is headquartered on the second floor of the Franklin Park Medical Center, at 220 E. Rowan, on Spokane’s North Side.
Genetic Veterinary Sciences also operates Canine HealthCheck, My CatScan, and AvianDx. Testing is available for breeders, veterinarians, and individuals.
The Journal reported in 2020 that Paw Print had about 40 total employees. At the time, Shaffer noted that the COVID-19 pandemic increased adoption of puppies, as well as a general increase in demand for pet health care products and services.
Neogen develops and markets diagnostic tests for airborne bacteria, food allergens, natural toxins, drug and chemical residues, plant diseases, and quality assurance. Neogen trades on the Nasdaq stock exchange under the symbol NEOG. As of market close on Jan. 10, Neogen was trading at $39.57. In the past 12 months, Neogen’s stock has traded at between $38.85 and $48.34 a share.
Shaffer says in a Neogen release that joining Neogen will provide Paw Print with more opportunities.
“The focus on quality and accuracy, which has been a hallmark of (Paw Print), coupled with the global reach and expertise from Neogen, will continue to grow the companion animal market and deliver solutions focused on the health and well-being of pets and the human-animal bond,” Shaffer says.
The sale of Paw Print marks the second genetics company that Shaffer has started and grown here before selling to a large, out-of-state publicly traded company.
In 2003, Shaffer co-founded the former Spokane-based company Signature Genomic Laboratories LLC, a biotech company that conducted genetic testing for children with developmental disabilities. Signature Genomic grew to about 120 employees before it was acquired by Waltham, Mass.-based health technology services provider PerkinElmer Inc. for $90 million in 2010.
PerkinElmer shut down Spokane operations in mid-2014, laying off 80 workers here, as part of the shutdown of its genetic testing services division.
Last August, Genetic Veterinary Sciences made the Inc. 5000 list of the nation’s fastest-growing companies for the second consecutive year. The company ranked 3,511th, with three-year revenue growth rate at 97%. New York-based Inc. magazine, which compiles the list, says the minimum revenue requirement for 2021 is $2 million.
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