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Date: 2010-04-26
Acquiring pharma company: ExonHit Therapeutics (France)
Acquired biotech company: RedPath Integrated Pathology (USA)
Amount: $ 12.5 million in cash and $ 10 million in stock. Starting in 2012, RedPath’s current shareholders may receive subsequent additional payments of up to $9.5 million dependent on the achievement of specific sales targets.
Terms of the agreement: ExonHit Therapeutics has entered into a binding agreement for the acquisition of RedPath Integrated Pathology, a privately held molecular diagnostics company, focused on cancer.
RedPath will become part of ExonHit’s US operations. The company has a unique DNA-based technology platform, PathFinderTG®, which provides diagnostic information that can lead to a more personalized patient clinical management decision. This analytical tool improves the diagnosis of difficult cases in which cancerous or pre-cancerous conditions are not identified by a
conventional pathology examination.
RedPath successfully developed, launched, and earned reimbursement for
PathFinderTG® molecular diagnostic assay for pancreatic cancer. A second assay to differentiate primary from metastasis tumors is being launched.
The company’s other service lines include two programs in late-stage development and several earlier stage development programs in oncology.

This transaction will strengthen ExonHit's presence in the USA which represents 55% of the multi-billion dollar molecular diagnostics market ExonHit’s global diagnostics division will be led by RedPath CEO Mark D. Myslinski, who will join ExonHit Management Board upon closing of the transaction.

The transaction is subject to approval by ExonHit’s shareholders at an upcoming Extraordinary General Meeting to be convened. It is expected to close before mid-July 2010.
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