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Sygnis Closes TGR Biosciences Acquisition

NEW YORK (GenomeWeb) – Sygnis said today that it completed its €10.1 ($12.0 million) acquisition of Australian reagent maker TGR Biosciences.

According to Sygnis, TGR's product portfolio includes a proprietary protein capturing technology complementary to its range of immunology, genomic, and proteomic products and services.

In March, Sygnis disclosed it was planning to raise up to €6.6 million through a private placement to help fund the acquisition, but ultimately raised €4.2 million by selling 3 million newly issued shares. The Heidelberg, Germany-based company also obtained €2 million in debt financing to complete the transaction.

Sygnis said that it will fully integrate TGR's technology and R&D facilities into its own operations, but that it has yet to determine the impact the acquisition will have on its previously disclosed 2018 financial guidances.

Last month, the company said it anticipated 2018 revenues in the range of €11 million to €12 million.