november AG

euro adhoc: november AG
Strategic management decisions
november AG´s subsidiary PROGEN Biotechnik GmbH sells key assets to AXIS-SHIELD GmbH

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(Erlangen, March 2, 2009) PROGEN Biotechnik GmbH, a wholly-owned subsidiary of november AG, has today concluded a contract with AXIS-SHIELD GmbH, Heidelberg, the Germany subsidiary of the AXIS-SHIELD-Group, on the sale of key assets belonging to its Point-of-Care Division. The contract will have retrospective effect from March 1, 2009. The contract relates to the GlucoTalk blood sugar measuring device and NycoCard™ and Afinion™, AXIS-SHIELD PoC AS´s products for diabetics that were to date distributed in Germany, Austria and Hungary by PROGEN Biotechnik GmbH. It is also planned that PROGEN Biotechnik GmbH employees who were previously primarily involved with the products that have now been sold will in future be employed by AXIS-SHIELD GmbH. The aforementioned areas of activity represent around 50% of PROGEN Biotechnik GmbH´s current sales revenues. The purchase price is EUR 1.2 million. For a transitional period of two months, the parties have agreed a service contract under which PROGEN Biotechnik GmbH will receive an additional payment of EUR 200,000.00. Provision has also been made for payments to be made to PROGEN Biotechnik GmbH for the transfer of inventories.

The asset sale was prompted by AXIS-SHIELD PoC AS´s termination of the previous sales and distribution contract. PROGEN Biotechnik GmbH will now re-focus on its core business of development, production and sale of in-vitro diagnostics and research reagents and expand these areas of activity.

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ots Originaltext: november AG
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Further inquiry note:
Dr. Dirk Zurek
Tel.: +49 (0) 6221 8278-0

Branche: Biotechnology
ISIN:      DE000A0S9N72
WKN:        A0S9N7
Index:    CDAX, Prime All Share, Technologie All Share
Börsen:  Börse Frankfurt / regulated dealing/prime standard
              Börse Berlin / free trade
              Börse Stuttgart / free trade
              Börse Düsseldorf / free trade
              Börse Hannover / free trade
              Börse München / free trade

Weitere Meldungen: november AG

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