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Molecular Vision Ltd. and AcronGenomics Inc. (AGNM) Unable to Reach Agreement on the Acquisition of Molecular Vision


4/9/2008 10:36:59 AM

LONDON, April 8 /PRNewswire/ -- The Board of Molecular Vision today announces that discussions with Acrongenomics on the proposed acquisition of Molecular Vision have now ceased. Acrongenomics has been unable to complete on the terms and timetable agreed. Given this, the Board of Molecular Vision believes that the best interests of the company are served by bringing these discussions to a conclusion. Acrongenomics remains a significant shareholder in Molecular Vision, having recently acquired a 10.9% stake in the company, and work continues on the joint development agreement between the two companies that commenced in March 2006.

About Molecular Vision Limited

Molecular Vision is developing low cost easy-to-use credit-card sized devices for medical testing that will greatly extend the in-house tools available to the general practitioner. The devices are being developed to allow near patient quantitative diagnosis, currently focusing on key areas of high disease burden, namely kidney function and cardiovascular disease. The technology also has additional applications outside the diagnostics market (e.g. forensic science, homeland security and environmental monitoring).

CONTACT: For more information contact: Molecular Vision, Dr. Ian Campbell,
CEO, +44-207-594-1430


Read at BioSpace.com

   

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