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SQI Diagnostics Amends Purchase Deal of Scienion to Push Back Termination Date

NEW YORK (GenomeWeb News) – SQI Diagnostics today announced it has amended its deal to buy Scienion in order to push back the date by which the deal can be terminated.

The termination date is now Oct. 5, changed from the original date of Sept. 30. No reason was given for the change. SQI also has agreed to issue an additional 173,797 common shares of its stock to Scienion in consideration of the extension, the Toronto-based company said.

In July SQI agreed to buy the German microarray equipment and microarray print and development services shop for about C$15 million (US$15.6 million). SQI also would issue 735,294 shares of its stock as part of the deal.

The proposed purchase is expected to further SQI's entry into the multiplexed protein, antibody, antigen, and molecular microarrays spaces.

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