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Sedia Biosciences Floragenex announce completion of merger

Merged entity will enable expansion into point-of-care molecular      diagnostics
October 19, 2016 07:00 AM Eastern Daylight Time
PORTLAND, Ore.--( BUSINESS WIRE )-- Sedia      Biosciences Corporation (Portland, OR) and Floragenex      Inc. (Eugene, OR) today announced the merger of their companies. Details of the transaction were not disclosed. Sedia will continue the      business of Floragenex as a wholly-owned subsidiary with current      Floragenex Chief Executive Officer, Dr. Rick Nipper continuing oversight      of the new subsidiary. Floragenex, Inc., a genomics testing service provider focused on      next-generation DNA sequencing, was founded in 2007 as a spin out of the University of Oregon, while Sedia Biosciences, founded in 2009, develops      and commercializes point of care diagnostics in human diseases,      including HIV. The combined company will continue to provide genomic      services for scientific customers and testing solutions for HIV and      other infectious agents. “The merging of Sedia and Floragenex creates a compelling strategic      transaction for our combined shareholders and the capability to deliver      leading-edge technological innovation to our current and future      customers,” said Roger Gale, Chairman and Chief Executive Officer, Sedia      Biosciences. “The merger will also yield many synergies and benefits in      the months and years ahead. Specifically, it will strengthen and      diversify our scientific capability across both immuno- and molecular      (DNA) diagnostic technologies; broaden our potential product range;      expand access to the plant and animal kingdom markets; accelerate      development of next generation products; and strengthen sales and      marketing, business development, and strategic planning.”
“The merger with Sedia Biosciences will help expand Floragenex’s      expertise in the product and diagnostic spaces while helping to grow our      existing genomic services business,” said Rick Nipper, Chief Executive      Officer, Floragenex. “As a long time provider of next generation DNA      sequencing services, we look forward to continuing to support and serve      our clients in the life sciences. At the same time, we’re excited to      deepen the relationship with Sedia, who has been a corporate partner of      Floragenex since 2015. Our combined management and scientific teams are      eager to work together and move forward into new technologies      capitalizing on the expertise of both companies.”
Dr. Ronald Mink, President and Chief Sciences Officer of Sedia      Biosciences, added, “The medical diagnostics market has rapidly      developed intense interest in the application of molecular biology      technology to novel point-of-care testing approaches. The pooled      expertise of both companies will assist Sedia’s expansion into novel      molecular diagnostic products to supplement and enhance our current      product lines, and allow further expansion into plant and animal      testing. There is tremendous potential in the synergistic opportunities      afforded Sedia as a result of our combined expertise and markets.”
Legal counsel for the transaction was provided to Floragenex by Alto      Law Group and to Sedia Biosciences by Ater      Wynne LLP and Tonkon      Torp LLP . Visit www.sediabio.com and www.floragenex.com to learn more about each company. Also visit Sedia and Floragenex on      Facebook ( Sediabio and Floragenex )      and Twitter ( @Sediabio and @Floragenex ). About Sedia Biosciences Corporation:
Sedia Biosciences Corporation ( www.sediabio.com )      is a U.S.-based healthcare company focused on the development and      commercialization of novel in      vitro diagnostic and epidemiological      tests including the Sedia™ LAg-Avidity      EIA and BED      HIV-1 Incidence EIA . The company is dedicated to advancing access to      medical care by developing innovative diagnostic and monitoring products      that enable more cost effective and expanded testing for infectious      diseases and other conditions. Based in Portland, Oregon, Sedia      develops, manufactures, licenses and sells in vitro diagnostic and      epidemiological tests as well as specimen      collection devices . About Floragenex, Inc.:
Floragenex Inc. ( www.floragenex.com )      is a privately owned Oregon-based biotechnology company providing      innovative solutions for genomic analysis in human, plant and animal      systems. Since 2007, Floragenex has delivered impact results in hundreds      of genomics studies focused on answering fundamental questions in      genetics, ecology, evolutionary biology and biomedical research. Floragenex technologies permit investigation of genomes at unprecedented      levels for academic, governmental and commercial researchers worldwide. Statements in this press release that are not historical facts are      forward-looking statements within the meaning of the Securities Act of      1933, as amended. Those statements include statements regarding      the intent, belief or current expectations of the Company and its      management. Such statements reflect management's current views,      are based on certain assumptions and involve risks and uncertainties.Actual results, events, or performance may differ materially from the      above forward-looking statements due to a number of important factors,      and will be dependent upon a variety of factors, including, but not      limited to, the Company’s ability to obtain additional financing, if and      as needed, and access funds from its existing financing arrangements      that will allow it to continue its current and future operations and      whether demand for its test products in domestic and international      markets will generate sufficient revenues to achieve positive cash flow      and profitability. The Company undertakes no obligation to      publicly update these forward-looking statements to reflect events or      circumstances that occur after the date hereof or to reflect any change      in the Company's expectations with regard to these forward-looking      statements or the occurrence of unanticipated events. Contacts


Sedia Biosciences and Floragenex Announce Completion of Merger

Merged entity will enable expansion into point-of-care molecular       diagnostics
PORTLAND, Ore.–(BUSINESS WIRE)–October 19, 2016–
Sedia       Biosciences Corporation (Portland, OR) and Floragenex       Inc. (Eugene, OR) today announced the merger of their companies. Details of the transaction were not disclosed. Sedia will continue the       business of Floragenex as a wholly-owned subsidiary with current       Floragenex Chief Executive Officer, Dr. Rick Nipper continuing oversight       of the new subsidiary. Floragenex, Inc., a genomics testing service provider focused on       next-generation DNA sequencing, was founded in 2007 as a spin out of the       University of Oregon, while Sedia Biosciences, founded in 2009, develops       and commercializes point of care diagnostics in human diseases,       including HIV. The combined company will continue to provide genomic       services for scientific customers and testing solutions for HIV and       other infectious agents. “The merging of Sedia and Floragenex creates a compelling strategic       transaction for our combined shareholders and the capability to deliver       leading-edge technological innovation to our current and future       customers,” said Roger Gale, Chairman and Chief Executive Officer, Sedia       Biosciences. “The merger will also yield many synergies and benefits in       the months and years ahead. Specifically, it will strengthen and       diversify our scientific capability across both immuno- and molecular       (DNA) diagnostic technologies; broaden our potential product range;       expand access to the plant and animal kingdom markets; accelerate       development of next generation products; and strengthen sales and       marketing, business development, and strategic planning.”
“The merger with Sedia Biosciences will help expand Floragenex’s       expertise in the product and diagnostic spaces while helping to grow our       existing genomic services business,” said Rick Nipper, Chief Executive       Officer, Floragenex. “As a long time provider of next generation DNA       sequencing services, we look forward to continuing to support and serve       our clients in the life sciences. At the same time, we’re excited to       deepen the relationship with Sedia, who has been a corporate partner of       Floragenex since 2015. Our combined management and scientific teams are       eager to work together and move forward into new technologies       capitalizing on the expertise of both companies.”
Dr. Ronald Mink, President and Chief Sciences Officer of Sedia       Biosciences, added, “The medical diagnostics market has rapidly       developed intense interest in the application of molecular biology       technology to novel point-of-care testing approaches. The pooled       expertise of both companies will assist Sedia’s expansion into novel       molecular diagnostic products to supplement and enhance our current       product lines, and allow further expansion into plant and animal       testing. There is tremendous potential in the synergistic opportunities       afforded Sedia as a result of our combined expertise and markets.”
Legal counsel for the transaction was provided to Floragenex by Alto       Law Group and to Sedia Biosciences by Ater       Wynne LLP and Tonkon       Torp LLP . Visit www.sediabio.com and www.floragenex.com to learn more about each company. Also visit Sedia and Floragenex on       Facebook ( Sediabio and Floragenex )       and Twitter ( @Sediabio and @Floragenex ). About Sedia Biosciences Corporation:
Sedia Biosciences Corporation ( www.sediabio.com )       is a U.S.-based healthcare company focused on the development and       commercialization of novel in       vitro diagnostic and epidemiological       tests including the Sedia™ LAg-Avidity       EIA and BED       HIV-1 Incidence EIA . The company is dedicated to advancing access to       medical care by developing innovative diagnostic and monitoring products       that enable more cost effective and expanded testing for infectious       diseases and other conditions. Based in Portland, Oregon, Sedia       develops, manufactures, licenses and sells in vitro diagnostic and       epidemiological tests as well as specimen       collection devices . About Floragenex, Inc.:
Floragenex Inc. ( www.floragenex.com )       is a privately owned Oregon-based biotechnology company providing       innovative solutions for genomic analysis in human, plant and animal       systems. Since 2007, Floragenex has delivered impact results in hundreds       of genomics studies focused on answering fundamental questions in       genetics, ecology, evolutionary biology and biomedical research. Floragenex technologies permit investigation of genomes at unprecedented       levels for academic, governmental and commercial researchers worldwide. Statements in this press release that are not historical facts are       forward-looking statements within the meaning of the Securities Act of       1933, as amended. Those statements include statements regarding       the intent, belief or current expectations of the Company and its       management. Such statements reflect management’s current views,       are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the       above forward-looking statements due to a number of important factors,       and will be dependent upon a variety of factors, including, but not       limited to, the Company’s ability to obtain additional financing, if and       as needed, and access funds from its existing financing arrangements       that will allow it to continue its current and future operations and       whether demand for its test products in domestic and international       markets will generate sufficient revenues to achieve positive cash flow       and profitability. The Company undertakes no obligation to       publicly update these forward-looking statements to reflect events or       circumstances that occur after the date hereof or to reflect any change       in the Company’s expectations with regard to these forward-looking       statements or the occurrence of unanticipated events. View source version on businesswire.com: http://www.businesswire.com/news/home/20161019005258/en/
Sedia Biosciences Corporation


Sedia Biosciences Corporation

In the statement , Dr. Nipper added that Sedia Biosciences has been a corporate partner of Floragenex since last year : `` The merger with Sedia Biosciences will help expand Floragenex 's expertise in the product and diagnostic spaces while helping to grow our existing genomic services business . ''

Floragenex, Sedia Biosciences Merge

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Floragenex is a biotechnology company and genomics testing service provider focused on next-generation DNA sequencing, offering solutions for genomic analysis in human, plant, and animal systems. Floragenex has delivered impact results in hundreds of genomics studies focused on answering fundamental questions in genetics, ecology, evolutionary biology, and biomedical research. Floragenex technologies permit investigation of genomes for academic, governmental, and commercial researchers worldwide. Floragenex was founded in 2007 as a spin-out of the University of Oregon.

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