VolitionRx Limited (NYSE AMERICAN: VNRX) (“Volition”) today announced the closing of the acquisition of the epigenetic reagent company Octamer GmbH (“Octamer”) by its subsidiary Belgian Volition SPRL for approximately $725,000, consisting of cash and shares of restricted common stock of Volition. This strategic acquisition helps secure the supply of one of the key components of Volition’s Nu.Q(TM) tests, the recombinant nucleosome used as the calibrant.
Volition also announced the receipt of additional non-dilutive funding in the form of a $550,000 (Euro 500,000) unsecured loan from Namur Invest to assist with the Octamer acquisition. This takes the total non-dilutive funding provided by the Namur Regional Government and associated agencies to over $7 million to-date.
Commenting on the announcement Cameron Reynolds, Chief Executive Officer of Volition said, “This acquisition means that we will be working with one of the world’s leading nucleosome experts, Dr. Adrian Schomburg. Not only will this deal secure the supply of a wide range of our key components, but it will also facilitate the transfer of know-how and expertise so that we can develop the capability to manufacture recombinant nucleosomes in Volition’s laboratory. This deal enhances our goal of becoming one of the world’s leading epigenetics companies. I would like to thank Namur Invest for their continued support of our many projects.”
Regarding the transaction, Dr. Adrian Schomburg, Founder and CEO of Octamer said, “I believe that the progress that Volition has made to date on nucleosomes in circulation is very exciting and I have confidence that this deal is a good convergence of our two technologies and companies. I look forward to working together to bring these transformative diagnostic agents into everyday diagnostic practice.”
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Source: PR Newswire
