GENEVA, February 4 /PRNewswire-FirstCall/ -- Acrongenomics, Inc. (OTC: AGNM) is pleased to announce that they have acquired a 10.9% interest in Molecular Vision Limited, on a fully diluted basis. The cash consideration will be used by Molecular Vision for working capital and to further develop its technology.
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).
About Acrongenomics Inc.
Acrongenomics Inc. is a publicly traded company that focuses on investing in and commercializing novel technology platforms concerning the Life Sciences sector. Acrongenomics brings novel and realistic concepts to market by transforming scientific innovations into tangible, consumer-orientated applications. The company has its headquarters in Geneva, Switzerland.
About Molecular Vision Limited
Molecular Vision Limited is a spin-out company of Imperial college,
London UK. The company was founded by three Imperial College London
researchers - Prof. Donal Bradley, Prof. Andrew De Mello and Dr. John De
Mello - in 2002 in order to meet a clearly defined demand in the medical
diagnostics, biosensors and analytical instrumentations markets and the
need for miniaturized chemical and biological detectors offering high
sensitivity and functionality at low cost. The company has directly
addressed this market demand by inventing a novel method for optical
detection based on recent advances in organic electronics and light
emitting diodes combined with microfluidics technology. The company has
|SOURCE Acrongenomics Inc.|
Copyright©2008 PR Newswire.
All rights reserved