KNOXVILLE, Tenn., September 14, 2023--(BUSINESS WIRE)--New Day Diagnostics is pleased to announce that the Extraordinary General Meeting of Epigenomics AG (Frankfurt General Standard: ECX1), a molecular diagnostics company focused on blood testing for the early detection of cancer, has approved the acquisition agreement between the two organizations. The agreement's completion will further enhance New Day Diagnostics' ability to improve lives by empowering people with innovative, accessible diagnostics.
"New Day Diagnostics is thrilled that the resolutions required for the execution of this Agreement have been successfully passed," said Eric Mayer, President and CEO of New Day Diagnostics. "This development is a testament to the commitment and vision of both organizations to increase survivorship from colorectal cancer with an accurate, affordable, accessible test requiring routine blood collection as a path to increasing compliance."
Jens Ravens, Executive of Epigenomics AG, added: "We are very pleased that the Extraordinary General Shareholders' Meeting followed our reasoning and approved the agreement with an overwhelming majority. As a result, there is now a realistic possibility that Epigenomics' considerable groundwork will bear fruit and patients will benefit from the blood-based colorectal cancer screening test."
The agreement, approved by the Extraordinary General Meeting, leads to the sale of nearly all assets held by Epigenomics AG to New Day Diagnostics. The approval of this Agreement was necessary under Section 179a of the German Stock Corporation Act (AktG). Additionally, the Extraordinary General Meeting gave the green light to amend the statutory purpose of Epigenomics AG, aligning it with the future purpose of Epigenomics AG and the strategic goals of the acquisition.
The closing of the agreement remains subject to customary closing conditions, and both parties are diligently working towards its completion. Once finalized, this strategic move will empower New Day Diagnostics, a full-service diagnostics developer, marketer, and CRO service provider to expedite this solution through clinical trials to manufacturing and market entry.
For more information about New Day Diagnostics, please visit newdaydiagnostics.com.
About New Day Diagnostics, LLC
New Day Diagnostics, LLC, located in Knoxville, TN is a full-service diagnostic healthcare company committed to the development of innovative diagnostic solutions that lead to improved patient outcomes while reducing healthcare costs. The company is a Contract Research Organization (CRO) with the capabilities for support throughout the diagnostic process, from biomarker to discovery to product launch. It includes an ISO 13485:2016 and CLIA certified in vitro diagnostics laboratory specializing in oncology, gastrointestinal disease, infectious disease, and women’s health. The company is also in active development and distribution of affordable, state-of-the-art, multiplex, point-of-care, and over-the-counter tests that allow early detection and monitoring of disease through accuracy, ease of use, and affordability.
About Epigenomics AG
Epigenomics AG is a molecular diagnostics company focused on blood testing for the early detection of cancer. Based on its proprietary biomarker technology for the detection of methylated DNA, Epigenomics developed blood tests for various cancer indications with high unmet medical needs.
About TCB Capital Advisors
TCB Capital Advisors specializes in advising on companies' buying, selling, investment, and growth strategies. TCB offers a tailored approach to each of our clients. Outside of transactions alone, work with our clients can include building a corporate development function, working with the business development team to grow revenue or post-transaction integration and consulting services. Our ethos asserts that such services aren't isolated from transactions, but integral to supporting management towards successful expansion or exit. TCB Capital Advisors is an affiliate of Weild & Co. Securities transactions effected through Weild & Co., member FINRA/SIPC.
Contacts
New Day Diagnostics
Jessica Etheridge, Director of Marketing and Branding
marketing@newdaydiagnostics.com
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