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Transgenomic Sells Ion Chromatography Assets for $2.1M

NEW YORK (GenomeWeb) – Transgenomic announced today that it has sold its ion chromatography product line and all related assets to Edge BioSystems for roughly $2.1 million in cash.

Under the deal, Edge, which manufactures and distributes DNA sequencing sample preparation and clean-up products, acquired all of Transgenomics' ion chromatography products, licenses, technology, know-how, trademarks, and inventory.

Additional terms of the arrangement were not disclosed.

"An important part of our revitalization strategy is to selectively monetize non-core legacy businesses and product lines so that we can focus our resources on commercialization of [our] multiplexed ICE COLD-PCR for high-value, high-growth clinical applications such as liquid biopsies for targeted cancer therapy and patient monitoring," Transgenomic President and CEO Paul Kinnon said in a statement. "Transgenomic will continue to pursue opportunities to optimize our asset deployment and product mix, and we expect to complete additional asset monetizations in the coming months."

About a year ago, Transgenomic divested its Surveyor Nuclease technology and assets, used to detect mutations and polymorphisms in DNA from different organisms, to Integrated DNA Technologies for at least $4.25 million.

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