MEDIGENE FOCUSES ON CORE COMPETENCIES

Spin off MediGenomix sold to Eurofins Scientific

29-May-2001

The internationally operating biopharmaceutical company MediGene AG (NMarkt: MDG) announced today that it sells its 30% stake in MediGenomix GmbH to the bioanalytical company EUROFINS SCIENTIFIC AG. Financial details were not disclosed.

The innovative bioanalytical company MediGenomix, a MediGene spin-off founded in 1998, offers services for the research in various sectors of the applied DNA-analysis. This includes e.g. paternity tests & forensics, genotyping for the animal and plant breeding as well as pedigree analyses for animal keepers, food and environmental analyses, pharmacogenetics, service sequencing as well as genome sequencing and bioinformatics.

“The divesture of MediGenomix confirms MediGene’s business strategy to focus on research, development and commercialization of novel drugs for the treatment of cardiac and cancer diseases”, stated Peter Heinrich, Ph.D., MediGene’s CEO, and explained: “This transaction gives MediGenomix the opportunity to further grow in the applied genomic service market, which is clearly outside of MediGene´s core business. MediGene receives cash for the transaction which can now be invested in its core projects."

Dr. Gilles Martin, Eurofins’ CEO and president added: “The acquisition of MediGenomix is a major step in Eurofins Scientific’s strategy to strengthen its position in the genomics segment. The transaction should enhance our capacity in our genetic traceablity projects.”

EUROFINS SCIENTIFIC is an internationally operating biotech company with 30 affiliates in Europe and the USA. Within only 10 years the company has developed into one of the world\\'s leading companies in the bioanalytical sector. With over 3.000 established analytical methods, EUROFINS SCIENTIFIC is one of the leading bioanalytical companies in the world. Today, the company operates over 40 laboratories in eight countries and employs a total of over 1500 staff.

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