UPDATE 3-Solvay raises Innogenetics bid, beats off Gen-Probe

(Adds Solvay statement, Gen-Probe comment)

By Philip Blenkinsop

BRUSSELS, July 9 (Reuters) - Belgian drugmaker Solvay (SOLB.BR: Quote, Profile, Research) increased its bid for biotech company Innogenetics (INNX.BR: Quote, Profile, Research) on Wednesday, beating off a rival offer from U.S. disease diagnosis firm Gen-Probe Inc (GPRO.O: Quote, Profile, Research).

Solvay said in a statement its pharmaceutical division was offering 6.50 euros ($10.22) per share in cash for Innogenetics, which develops disease diagnosis and genetic testing.

Gen-Probe launched a bid for Innogenetics a month ago, offering 6.10 euros per share to make itself the world's largest standalone molecular diagnosis company.

Solvay had originally offered 5.75 euros per share in April.

Gen-Probe said on Wednesday that it did not intend to increase its offer.

Solvay said the transaction value was 200.7 million euros for Innogenetics shares, but it would also be buying warrants and convertible bonds.

Belgium's financial markets regulator CBFA suspended trading in shares of Innogenetics before the market opened pending an announcement. They resumed trading on Wednesday afternoon and rose 5.6 percent to 6.44 euros.