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Warnex Sells Pathogen Dx Business to AES Labs for $859K

NEW YORK (GenomeWeb News) — Warnex has sold its pathogen-detection business to AES Laboratoire, a French lab-equipment supplier, for CAN$900,000 ($859,000) in cash.
 
Warnex CEO Mark Busgang said yesterday it transferred the assets last week, and said that the deal is part of his company’s strategy to focus on laboratory services.
 
Quebec-based Warnex said around CAN$300,000 is to be paid at closing, and the other two thirds of the price would be paid in two installments on the first and second anniversaries of the closing.
 
Terms of the agreement also call for AES to rent 4,300 square feet of Warnex’ manufacturing and lab facilities for as long as two years.

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