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Sakura Finetek Acquires Genemed Biotechnologies Inc. Tissue-Based Advanced Staining Business

Sakura Finetek USA, Inc. today announced the acquisition of Genemed Biotechnologies Inc.’s (Genemed) tissue - based Advanced Staining business for cancer detection, diagnosis and monitoring. The deal is expected to be closed by December 31st, 2015. Financial terms of the acquisition were not disclosed.

“We are pleased to add Genemed’s highly skilled and expert personnel, production facility and their extensive catalog of antibodies, probes and detection chemistry to Sakura’s product portfolio. The product portfolio offered by Genemed is a perfect complement to Sakura’s hardware and software engineering competency in developing analytical instrumentation. The combination of both companies will create a powerful Advanced Staining solution and builds on Sakura’s commitment to develop innovative SMART automated platforms for our clinical and life science research customers”, said Takashi Tsuzuki, Chief Executive Officer and President, Sakura Finetek USA.

Genemed’s liquid-based molecular testing products were not included in the acquisition and will be spun out as an independent business. Genemed’s tissue - based Advanced Staining business will be integrated into Sakura Finetek with an immediate impact.

“Sakura has a rich history of innovation and market - leading quality instrument systems. Genemed and its employees are excited about the opportunity to link our highly sensitive and specific Advanced Staining products with Sakura’s highly efficient and novel fully automated Advanced Staining platform.” said Dr. Dean Tsao, Genemed’s founder and Chief Executive Officer.