RICHMOND, Va.--(BUSINESS WIRE)--Commonwealth Biotechnologies, Inc. (“CBI”) (NASDAQ Capital Market: CBTE) is pleased to announce a market update regarding several recent and proposed major transactions that management believes, together, will redefine CBI’s asset base, business model and financial performance. Management believes that its planned sale of the assets of CBI Services and Fairfax Identity Laboratories divisions to Bostwick Laboratories (Business Wire, July 21, 2009) will provide CBI with upfront cash, ongoing lease revenues and will be accretive to CBI’s earnings. Management believes that the stock issuance to Biosignal Ltd (Business Wire, July 23, 2009) when completed, will strengthen CBI’s balance sheet and support CBI’s compliance with NASDAQ listing requirements. Management believes that these transactions pave the way for a transformative acquisition of GL Biochem (Shanghai) Ltd (“GL Biochem”) (Business Wire, June 8, 2009), the largest global manufacturer of research-grade peptides and a company with a high degree of synergy with CBI’s subsidiary, Mimotopes Pty Ltd.
