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Transgenomic Announces Closing of the Acquisition of Clinical Data's Diagnostic Business and the Closing of a $6 Million Financing
Date:12/29/2010

ited about the acquisition, which strengthens our molecular diagnostics position in the marketplace, expands our commercial operation with an accomplished team that will improve our competitive position and enhances our customer support and patient care capabilities.  We are also very excited about building a strategic relationship and having the support of such a respected investor as Third Security and Randal Kirk.  Their knowledge of our industry will be beneficial in catapulting Transgenomic into the top tier of diagnostic providers."

Commenting on the investment, Randal Kirk, Senior Managing Director and Chief Executive Officer of Third Security, LLC said, "Transgenomic's strong management team, broad product offering and state-of-the-art technology position the Company for growth in a significant and underserved market.  We look forward to working with Craig Tuttle and his management team to help Transgenomic expand and realize its growth plans." 

Griffin Securities, Inc. acted as financial adviser and placement agent to Transgenomic, Inc. on this transaction.

About Transgenomic, Inc.

Transgenomic, Inc. (www.transgenomic.com ) is a global biotechnology company specializing in high sensitivity genetic variation and mutation analysis, providing products and services in DNA mutation detection and discovery for clinical research, clinical molecular diagnostics and pharmacogenomics analyses. Its product offerings include the WAVE® Systems and associated consumables specifically designed for use in genetic variation detection and single- and double-strand DNA/RNA analysis and purification. With broad applicability to genetic research, nearly 1,500 systems have been shipped to customers in more than 50 countries. The SURVEYOR® Mutation Detection Kits and SURVEYOR Check-It Kit provide reagents and protocols for high sensitivity detection of mutations in DNA. In
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