Sepragen Announces the Completion of Cyto Biologic Technologies AcquisitionHAYWARD, Calif.--(BUSINESS WIRE)--Dec 6, 2007 - Sepragen Corporation (Pink Sheets:SPGNA), a provider of patented technology and equipment for bio-processing needs in the biotech industry, today announced that it has completed the acquisition of Cyto Biologic Technologies, Inc. Terms of the acquisition were not disclosed. Of the acquisition, Vinit Saxena, CEO of Sepragen, stated, "The consummation of the acquisition of Cyto Biologic Technologies allows Sepragen to provide our bio-processing customers with an innovative technology to rapidly grow cells to high densities with resultant higher productivity." Saxena continued, "What is most significant is that this is the first step in transforming Sepragen from being a supplier of individual tools to becoming a value-added solution provider in the bio-processing space. Cells grown on the bioreactor produce biological molecules, which can be further processed by several technologies, including Sepragen columns, resins and QuantaSep systems."
Sepragen has already leased additional facility space and is expanding its laboratory and production capabilities to meet the anticipated need resulting from the bioreactor, which has hitherto been in beta testing and for which Sepragen has already received its initial order from BD. "We are very happy with results from beta test sites and the interest seems very promising," Saxena concluded.
Sepragen Corporation markets innovative bio-processing equipment that biotechnology companies use to develop and manufacture high value diagnostics as well as therapeutic drugs. Sepragen has a number of customers for its current products that are industry leaders and approximately two dozen approved drugs are made using Sepragen Products.
The statements in this release that relate to future events or performance, statements about growth, market acceptance, levels of sales and market size and future manufacturing capacity and efficiencies are forward-looking statements that involve risks and uncertainties, including risks associated with uncertainties related to the development of markets for the commercial acceptance of the Company's products and services, the availability of components, competitors' product introductions and other risks identified in the Company's SEC filings. Actual results may differ from those described in these forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof.
Vinit Saxena, CEO, 510-475-0650 ext. 23
Posted: December 2007