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WaferGen Bio-systems Reports Completion of $15 Million Private Placement Transaction
Date:10/2/2013

ck and 2,369,000 five-year warrants with a $2.60 exercise price.

As a result of the completion of the private placement and the restructuring transaction, the Company's capital structure has been dramatically simplified and its balance sheet has been significantly strengthened. 

The Company intends to use the net proceeds from the private placement for general corporate and working capital purposes, including commercialization activities intended to increase revenues from sales of SmartChip TE (Target Enrichment for Next-Generation Sequencing (NGS)) and SmartChip MyDesign (high-throughput quantitative PCR) products.  In particular, SmartChip TE addresses CLIA-certified and clinical research laboratories' significant unmet needs in sequencing-based testing by providing uniform coverage of targeted genes, yielding better test specificity and sensitivity.  The superior performance of this new product is based on WaferGen's proprietary technology that relies on massively parallel singleplex PCR reactions, where amplification is cleaner and better controlled, thereby providing more accurate diagnostic test results in the downstream sequencing step.  On the qPCR side, the SmartChip MyDesign System has a powerful value proposition of content design flexibility, cost-effectiveness, and no need for pre-amplification.

"The successful completion of these restructuring and financing transactions represents a significant achievement for WaferGen.  In the past 18 months, we have made great strides to reposition WaferGen for future success in our target markets.  We believe our strengthened balance sheet will enable us to implement important commercialization activities that are critical to the success of our business plan," said Ivan Trifunovich, President and CEO of WaferGen.

About WaferGen and the SmartChip Real-Time PCR System

WaferGen Bio-systems, Inc. is an innovative life science
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SOURCE WaferGen Bio-systems, Inc.
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