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Gentronix Limited - Announces Rights Issue Completion


7/19/2010 12:44:53 PM

Manchester, UK - Gentronix Ltd, the Manchester based Genotoxicity and Predictive Toxicology Company announces that it has recently successfully completed a £610k Rights Issue, fully underwritten by its two principal investors, NVM Private Equity and YFM Private Equity and positively supported by several of its private shareholders. The company has raised the cash to provide working capital to fund exciting new business opportunities for the next 12-18 months.

The company's trading performance continues to improve positively and as it expands both its IP and service businesses it will use part of the proceeds of the rights issue to invest in capital expenditure and new personnel ahead of anticipated further growth in market demand from both product groups, as it positions itself to become the leading European provider of genotoxicity assays and services."

Chairman and CEO of Gentronix, John Nicholson, commented, ”We are seeing an increase in demand for specialist toxicology services and products and the successful completion of this fund raising will allow us to respond to our customers needs”

About Gentronix:

Gentronix provides services and solutions that help companies reduce attrition rates and ensure safer products across a wide range of chemistry driven industries. Our primary focus is on providing better hazard identification assays and services for genotoxicity through use of GreenScreen® and BlueScreen™ human cell assay technology and a range of complementary in vitro genotoxicity assays. Our proprietary assays are designed for use much earlier in drug and compound discovery than the standard battery of genotoxicity tests and provide positive results that are more accurately predictive of in vivo risk than the current in vitro mammalian assays. To find out more about all that we offer please visit our website www.gentronix.co.uk or contact us at info@gentronix.co.uk.

For Gentronix: John Nicholson, CEO and Chairman, +44 (0)161 606 7267, john.nicholson@gentronix.co.uk

For further press information, please contact: Catherine Butcher, or Nicola Aldren, Barrett Dixon Bell, Craig Court, 25 Hale Road, Altrincham, Cheshire WA14 2EY UK. Tel: +44 (0)161 925 4700 Fax: +44 (0)161 925 4701 Email: catherine@bdb.co.uk, nicola@bdb.co.uk



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