OriGene to acquire SDIX' Life Science business assets

Privately-held OriGene Technologies, a genome wide product company for research and diagnostic applications with operations in the USA and China, has signed a definitive agreement to acquire all the assets of the Life Science business of SDIX (Nasdaq: SDIX), a provider of biotechnology-based products and services, for a consideration of $16 million.

"We anticipate the combination of SDIX with OriGene will enhance our ability to continue to develop the most comprehensive collection of high-quality monoclonal antibodies for key applications both in research and diagnostics fields. SDIX's over 20 years of antibody development and production expertise will complement OriGene's existing high-throughput monoclonal antibody capacity to develop the highest quality antibodies such as UltraMAB," said Wei-Wu He, chairman and chief executive. OriGene expects the acquisition of SDIX to:

• enhance the capabilities of OriGene to provide the most comprehensive immunization strategies for antibody development using full-length mammalian produced protein and genetic immunization technologies to create the highest quality monoclonal antibodies available; and
• expand antibody and IVD reagent product and services capabilities to create significant new commercial opportunities for our existing and new customers including producing UltraMAB for future diagnostic uses.