ExonHit Therapeutics Inc. Backs out of $22.5M Agreement to Acquire RedPath Integrated Pathology

PARIS--(BUSINESS WIRE)-- Regulatory News: ExonHit Therapeutics (Paris:ALEHT.pa - News) (Alternext: ALEHT) announced today the termination of the Combination Agreement for the acquisition of RedPath Integrated Pathology, Inc. Following Highmark’s recent decision to limit coverage of RedPath PathFinderTG® family of tests to the Pancreatic cancer test only (https://www.highmarkmedicareservices.com/policy/mac-ab/l31144.html), the two companies were unable to agree on revised financial terms and conditions.

To accelerate its development as an internationally recognized diagnostic player, ExonHit is committed to pursuing its strategy of development via external growth and maintains its objective to acquire a revenue-generating molecular diagnostic company. Proceeds of the December 2009 capital increase will serve that purpose.

About ExonHit Therapeutics

ExonHit Therapeutics (Alternext: ALEHT) is a fast emerging healthcare player active in both therapeutics and diagnostics. The Company is applying its proprietary technology, based on the analysis of alternative RNA splicing, to develop innovative molecular diagnostic tests and therapeutics for Alzheimer’s disease and cancer indications. ExonHit has a balanced investment strategy with internal development programs and strategic collaborations, in particular with bioMérieux and Allergan.

ExonHit is headquartered in Paris, France and has U.S. offices in Gaithersburg, Maryland. The Company is listed on Alternext of NYSE Euronext Paris. For more information, please visit http://www.exonhit.com.

Disclaimer

This press release contains elements that are not historical facts including, without limitation, certain statements on future expectations and other forward-looking statements. Such statements are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those anticipated.

In addition, ExonHit Therapeutics, its shareholders, and its affiliates, directors, officers, advisors and employees have not verified the accuracy of, and make no representations or warranties in relation to, statistical data or predictions contained in this press release that were taken or derived from third party sources or industry publications, and such statistical data and predictions are used in this press release for information purposes only.

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