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SQI Diagnostics to purchase Scienion for $15m

SQI Diagnostics, a developer of technologies and products for advanced microarray diagnostics, has entered into an agreement to acquire all of the share capital of Scienion for a purchase price of CDN$15m in cash and the issuance of 735,294 common shares in the capital of SQI.

The transaction will further the SQI’s entry into the market to provide technologies for multiplexed protein, antibody, antigen and molecular (genetic) microarrays.

It will accelerate the commercialization of the SQI’s pipeline of in vitro diagnostic products through the use of Scienion’s arrayer equipment and complete ‘print solution.’

It will also provide sales support for Scienion’s equipment, products and services in North America.

The acquisition will give SQI access to Scienion’s sales and engineering support foothold to leverage the company’s suite of diagnostic products and services in Europe.

Scienion provides systems and services for the contact-free printing of biological and chemical agents for human diagnostics, pharmaceutics, veterinary, plant and food analytics and research.

Scienion’s dispensers allow for contact-free and drop spotting in the pico- to nano-liter range and are suited for microarray based analytics – as for tests with DNA, oligonucleotides, peptides, proteins, antibodies, glycans or for dispensing cells onto various carriers.

SQI Diagnostics proprietary microarray tests and fully-automated systems are designed to simplify protein and antibody testing workflow, increase throughput, reduce costs and provide data.