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July 14, 2014
09:17 EDTCONXCorgenix Medical announces transfer, product development agreement with Mellitus
Corgenix Medical Corporation announced a technology transfer and product development agreement with Mellitus LLC of Cambridge, Mass. Mellitus is a private company that is developing a novel in vitro diagnostic test with potential clinical utility for diabetes. The test is based on the measurement of Glycated CD59. Under terms of the agreement, Corgenix will develop a test kit to measure GCD59 for Mellitus’ U.S. and European Union commercialization programs. Mellitus’ lead product candidate is a test for Gestational Diabetes Mellitus.
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August 28, 2014
08:02 EDTCONXCorgenix Medical to be acquired by Orgentec Diagnostika for $16M
Corgenix Medical Corporation announced that it has entered into a definitive merger agreement to be acquired by Orgentec Diagnostika, a specialty diagnostics company headquartered in Mainz, Germany. The strategic acquisition will extend both companies’ global distribution network and broaden their portfolio of specialty diagnostic assays. Under the terms of the agreement, which has been approved unanimously by Corgenix’s Board of Directors, Corgenix shareholders will receive 27c in cash for each share of common stock they own, in a transaction valued at approximately $16M. The per-share price represents a 29% premium to the Corgenix average share price of 21c over the 90-day period prior to the company’s announcement on March 12, that it was exploring strategic alternatives. The transaction is subject to approval by Corgenix shareholders and other customary closing conditions, and is expected to close in the fourth calendar quarter of 2014.

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