NEWARK, Del.–(CRWENewswire)– SDIX� (NASDAQ: SDIX), today announced that it has successfully completed its previously announced sale of the assets of its water quality division to Modern Water plc for $4.5 million. Modern Water acquired the division�s intellectual property, current inventory and commercial contracts, as well as its equipment and staff.
Francis DiNuzzo, SDIX�s President and CEO, commented, �We are pleased to complete the sale of our Water Quality business to Modern Water. This divestiture is consistent with our corporate strategy and enables us to focus further on our core businesses, particularly our Life Science business where we are expanding the development efforts on our next generation proprietary GAT technology. The net cash from this sale strengthens our balance sheet and provides additional resources for key investments.�
About Modern Water (www.modernwater.com)
Modern Water owns, installs and operates world-leading desalination technology as well as develops and supplies advanced systems for water monitoring. The Company�s patented forward osmosis technology has been proven to significantly reduce costs, lower energy consumption and lessen environmental impact across a variety of industries. With a sales presence in over 20 countries, the Group’s Monitoring Division includes the world�s best performing real-time continuous toxicity monitor and trace metal analyzers for monitoring the quality of drinking water. Modern Water�s shares trade on the Alternative Investment Market of the London Stock Exchange.
About SDIX (www.sdix.com)
SDIX is a biotechnology company with a core expertise in creating better antigens, better antibodies and better assays for the pharmaceutical, biotechnology and food safety markets. For over 20 years, SDIX has been a leading immuno-solutions company, developing results-oriented and innovative antibody-based solutions that enable customers to meet high performance research, diagnostic and commercialization objectives.
In the life science market, SDIX�s technology and capabilities are being used to help discover disease mechanisms, facilitate development of new drugs and provide antibodies and assays for the diagnosis of disease. In the food safety market, SDIX continues to expand its footprint as an international supplier of rapid pathogen test technologies that enable more accurate and cost-effective results.
This news release may contain forward-looking statements reflecting SDIX’s current expectations. When used in this press release, words like �anticipate�, �could�, �enable�, �estimate�, �intend�, �expect�, �believe�, �potential�, �will�, �should�, �project�, �plan,� �designed� and similar expressions as they relate to SDIX are intended to identify said forward-looking statements. Investors are cautioned that all forward-looking statements involve risks and uncertainties, which may cause actual results to differ from those anticipated by SDIX at this time. Such risks and uncertainties include, without limitation, changes in demand for products, the application of our technologies to various uses, delays in product development, delays in market acceptance of new products, retention of customers and employees, adequate supply of raw materials, inability to obtain or delays in obtaining fourth party or required government approvals, the ability to meet increased market demand, competition, protection of intellectual property, non-infringement of intellectual property, seasonality, and other factors more fully described in SDIX’s public filings with the U.S. Securities and Exchange Commission.
Contact:
SDIX
Kevin Bratton, VP and CFO
302-456-6789
kbratton@sdix.com
or
Investor Relations
The Trout Group
Jessica Lloyd, 646-378-2928
jlloyd@troutgroup.com
Source: SDIX
THIS IS NOT A RECOMMENDATION TO BUY OR SELL ANY SECURITY!
No comments:
Post a Comment