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WaferGen Announces Second Quarter 2008 Financial Results
Date:8/13/2008

FREMONT, Calif., Aug. 13 /PRNewswire-FirstCall/ -- WaferGen Biosystems, Inc. (OTC Bulletin Board: WGBS), a leading developer of state-of-the-art gene expression, genotyping, cell biology and stem cell research systems, today highlighted the company's recent developments and milestones and announced financial results for the quarter and six months ended June 30, 2008.

Recent Corporate Developments and Milestones:

-- Initiation of alpha testing of WaferGen's SmartChip(TM) Real-Time PCR

System and proprietary oncology gene panel assays by the University of

Pittsburgh Medical School.

-- Close of private placement in the U.S. for a total of $3.6 million to

be used for general corporate purposes including the continued

advancement of the company's SmartChip(TM) Real-Time PCR System, as

well as the expansion of the company's global commercialization

campaign for its SmartSlide(TM) Micro-Incubation System.

-- Initial close of private placement by WaferGen's wholly owned Malaysian

subsidiary, WaferGen Biosystems (M) Sdn. Bhd to Malaysian Technology

Development Corporation Sdn. Bhd for a total of $1 million. An

additional $1 million is contingent on the subsidiary reaching certain

agreed upon milestones. Proceeds will be used to support the

high-volume manufacturing of the company's SmartChip(TM) Real-Time PCR

System in Malaysia.

-- Establishment of exclusive agreements for distribution of WaferGen's

SmartSlide(TM) Micro-Incubation System by leading distributors of

innovative products and services to cell biologists and stem cell

researchers in Switzerland, Taiwan, Germany and the Nordic Region

(Denmark, Sweden, Norway and Finland).

"During the second quarter of this year, we made significant progress in the development of our SmartChip Real-Time PCR System as evidenced by the in
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SOURCE WaferGen Biosystems, Inc.
Copyright©2008 PR Newswire.
All rights reserved

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