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,
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
|SOURCE WaferGen Biosystems, Inc.|
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