SDIX™ (NASDAQ: SDIX), a leading provider of biotechnology-based products and services, today announced that it has entered into an agreement to sell the assets of its Life Science business to OriGene Technologies, Inc. for $16 million. OriGene is acquiring substantially all of the assets of SDIX and has agreed to offer employment to a substantial majority of SDIX’s employees.
Francis DiNuzzo, SDIX’s President and CEO, commented, “The sale of our Life Science business to OriGene is a natural progression for SDIX. The combination of our core Life Science business and our Advanced GAT technologies with OriGene’s technologies and global operations will result in a broader portfolio of products and services for our customer base and a reach into markets that SDIX would be challenged to achieve as a standalone business.”
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