OriGene To Acquire SDIX's Life Science Business Assets
ROCKVILLE, Md., April 8, 2013 /PRNewswire/ -- OriGene Technologies, Inc., a leading genome wide product company for research and diagnostic applications with operations in the United States and China, announced that it has signed a definitive agreement to acquire all the assets of the Life Science business of SDIX™ (NASDAQ: SDIX), a leading provider of biotechnology-based products and services.
"We anticipate the combination of SDIX with OriGene will enhance our ability to continue to develop the most comprehensive collection of high-quality monoclonal antibodies for key applications both in research and diagnostics fields. SDIX's over 20 years of antibody development and production expertise will complement OriGene's existing high-throughput monoclonal antibody capacity to develop the highest quality antibodies such as UltraMAB™," said Wei-Wu He, Ph.D., OriGene's Chairman and Chief Executive Officer. OriGene expects the acquisition of SDIX to:
- Enhance the capabilities of OriGene to provide the most comprehensive immunization strategies for antibody development using full-length mammalian produced protein and genetic immunization technologies to create the highest quality monoclonal antibodies available
- Expand antibody and IVD reagent product and services capabilities to create significant new commercial opportunities for our existing and new customers including producing UltraMAB™ for future diagnostic uses
This transaction will uniquely position OriGene as one of the leaders in antibody development and production to help our customers find the best solutions for their antibody and assay needs. The acquisition is expected to be completed during the second quarter of 2013, subject to the approval of SDIX's shareholders and other customary closing conditions.About OriGene Technologies OriGene Technologies, Inc. develops, manufactures, and sells genome wide research and diagnostic products worldwide. OriGene has developed an extensive array of ultra-specific monoclonal antibodies called UltraMAB™ which offers significant improvement over traditional antibodies in antibody specificity. UltraMAB™ antibodies are validated by OriGene's proprietary high density microarray technology for a wide variety of antibody applications.
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