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GenMark Diagnostics Files Registration Statement for Initial Public Offering


3/19/2010 6:48:10 AM

PASADENA, Calif.--(BUSINESS WIRE)--GenMark Diagnostics, Inc. announced today that it has filed a registration statement with the Securities and Exchange Commission for a proposed initial public offering of its common stock. GenMark is a Delaware corporation and, in connection with the offering, will become the parent holding company of Osmetech, plc.

Piper Jaffray & Co. will act as the sole book-running manager, and Leerink Swann LLC will act as the co-manager for the proposed offering. The number of shares to be offered and the price range of the proposed offering have not yet been determined. All of the shares of common stock will be offered by GenMark.

The proposed offering will be made only by means of a prospectus. Once available, a preliminary prospectus relating to the proposed offering may be obtained from Piper Jaffray & Co. at 800 Nicollet Mall, Suite 800, Minneapolis, MN 55402 or by calling (800) 747-3924.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy these securities be accepted prior to the time that the registration statement becomes effective. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The prospectus related to the proposed offering will be included in the registration statement.

About GenMark and Osmetech

GenMark is the planned Delaware parent company of Osmetech, plc, a corporation registered in England and Wales. We are a molecular diagnostics company focused on developing and commercializing our proprietary eSensor® detection technology. Our XT-8 System enables multiplex detection of DNA and RNA targets. We are commercializing two FDA-cleared diagnostic tests for use with our XT-8 System, a Cystic Fibrosis Genotyping Test and a Warfarin Sensitivity Test. We are based in Pasadena, California.

Forward-Looking Statements

This news release contains forward-looking statements that are based on GenMark’s and Osmetech’s current beliefs and assumptions and on information currently available to their management. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of GenMark and Osmetech to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. As a result of these risks, uncertainties and other factors, readers are cautioned not to place undue reliance on any forward-looking statements included in this press release. These forward-looking statements represent beliefs and assumptions only as of the date of this news release, and neither GenMark nor Osmetech assume any obligation to update these forward-looking statements publicly, even if new information becomes available in the future.

Contact:

GenMark Diagnostics, Inc. Steven Kemper, Chief Financial Officer (626) 463-2000


Read at BioSpace.com


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