Expedeon AG announces commercial-use licence of proprietary technology in diagnostic assay
Heidelberg, Germany and Cambridge, UK, 11 September 2018 – Expedeon AG (Frankfurt: EXN; ISIN: DE000A1RFM03; Prime Standard) today announced the signing of a licence and supply agreement for its colloidal gold with South Korea-based PaxGenBio, a privately held, independent developer and supplier of rapid, highly sensitive multiplex diagnostic kits.
Expedeon’s colloidal gold is an aqueous suspension of spherical metallic nanoparticles manufactured to a high standard, demonstrating efficient antibody binding, for maximum sensitivity. PaxGenBio will deploy Expedeon’s gold nanoparticles in its MPCR-ULFA (multiplexed Polymerase Chain Reaction - universal lateral flow assays) technology. These assays will be used for the early, simultaneous detection of sexually transmitted diseases, including human papillomavirus, and tuberculosis. The term of the agreement is three years, with an option to extend.
Dr. Youngsuk Park, CEO of PaxGenBio, said: “We are very pleased to be working with Expedeon and its highly-skilled, experienced team. Following a thorough evaluation of colloidal gold from a number of manufacturers, we identified the Expedeon product as the most consistent and of highest quality.”
Dr. Heikki Lanckriet, CEO and CSO of Expedeon, commented: “Expedeon is committed to providing our customers with the highest level of service, quality and consistency. We are delighted that PaxGenBio has chosen to adopt our gold nanoparticles in the manufacturing of its diagnostic kits. Our commercially scalable, proprietary colloidal gold particle manufacturing and coating process provides particles of the highest quality and offers superior properties in terms of particle size and shape and their ability to conjugate antibodies or antigens.”
For further information, please contact:
Zyme Communications (Trade and UK Media Relations)
Phone: +44 (0)7787 502 947
Dr. Heikki Lanckriet
Phone: +44 1223 873 364
Investor website: www.investors.expedeon.com
MC Services AG (Investor Relations and International Media Relations)
Phone: +49 89 210228 0
About Expedeon AG: www.expedeon.com
Expedeon is an enabler of exciting advances in medical science and patient care. The Company’s core technologies, innovative products and services are used in research laboratories around the world, enabling scientists to push the boundaries of research and product development, and play an integral part in new diagnostic tools being brought to market. With applications spanning the entire workflows in genomics, proteomics and immunology, Expedeon’s technologies both accelerate and simplify research and make new and cost-effective processes available to biopharmaceutical and diagnostic organisations alike, thereby underpinning its customers’ development and commercialisation objectives. Expedeon’s products are sold through a direct sales force and several distribution partners in Europe, the USA and Asia. Expedeon AG has offices in Germany, Spain, UK, USA and Singapore. The Company is listed on the Prime Standard segment of the Frankfurt Stock Exchange (Ticker: EXN; ISIN: DE000A1RFM03).
### This publication is intended for information only and constitutes neither an offer to sell nor an invitation to buy securities. Some statements included in this press release, relating neither to proven financial results nor other historical data, should be viewed as forward-looking, i.e. not definite. Such statements are mainly predictions of future results, trends, plans or goals. These statements should not be considered to be total guarantees since given their very nature they are subject to known and unknown risks and imponderability and can be affected by other factors as a consequence of which the actual results, plans and goals of Expedeon AG may deviate greatly from the established conclusions or implied predictions contained in such statements. Expedeon does not undertake to publicly update or revise these statements in the light of new information or future results or for any other reason. ###