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Biosystems International Merges With Microbiochips
Date:9/13/2010

Biosystems International Merges With Microbiochips -- PARIS, September 13, 2010 /PRNewswire/ --


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Biotechnology, Medical Pharmaceuticals, Pharmaceuticals, Acquisitions, Mergers and Takeovers Click to view news release full screen  

Biosystems International Merges With Microbiochips

 

PARIS, September 13, 2010 /PRNewswire/ -- Biosystems International (BSI), a biotechnology company specializing in the discovery of novel monoclonal antibody based diagnostics, announces its merger with the company MicroBioChips (MBC) by contribution of assets.

Advantages of the merger

Following a successful partnership to develop monoclonal antibody microarrays, in which BSI provided the antibodies and MBC produced and commercialized the microarrays, the two companies have decided to solidify their collaboration by merging their activities. By combining their collective expertise the resulting company will optimize the production and sales of microarrays and related services and accelerate the development of diagnostic tests by BSI. In addition, the merger will lead to significant commercial, administrative and financial synergies.

"The merger of BSI and MBC is not limited to synergies and cost savings. Our complimentary business cultures will profoundly change our way of doing business, reducing the time to market for our diagnostics including in the short-term our test for lung cancer which is in late development," said Jean Pierre Tirouflet, President of Biosystems International.

Conditions of the merger

The partial transfer of assets of MBC to BSI was approved in Shareholders meetings held by the two companies at the end of July, 2010. Preceding the transaction, the two companies realized a capital increase of 2 125 000 EUR ($2 750 000) for BSI and 225 000 EUR ($300 000) for MBC assuring the new merged company sufficient capital for future development.

MBC

Microbiochips is a company specialized in the production of protein and antibody arrays and related services. Certified ISO 9001, the company excels in the custom production and processing of protein microarrays, bioinformatics and data analysis for academic and industrial clients including major pharmaceutical companies.

About Biosystems International

Biosystems International (BSI) is a biotechnology company specializing in the discovery and development of novel diagnostics for diseases with critical unmet needs. Using our proprietary monoclonal antibody proteomics process BSI rapidly discovers novel biomarkers and corresponding antibodies in a single step.

The company is currently focused on the discovery and development of diagnostic tests in the areas of cancer and chronic diseases as well as the development and commercialization of antibody arrays for plasma proteome profiling.

http://www.biosys-intl.com

Safe Harbor Statement

Except for historical information contained herein, statements made in this release that would constitute forward-looking statements may involve certain risks and uncertainties. All forward-looking statements made in this release are based on currently available information and the company assumes no responsibility to update any such forward looking statements.

Contacts - Elisabeth Rocolle-Teyssier, CFO - William Hempel, Director of Scientific Communication - Tel : +33-1-60-87-89-75 - info@biosys-intl.com
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SOURCE BioSystems International
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