SYGNIS AG announces completion of relocation of its Innova Biosciences unit to allow for expansion
October 18th, 2017
Move forms part of integration into SYGNIS Group
Madrid, Spain and Heidelberg, Germany, 18 October 2017 – SYGNIS AG (Frankfurt: LIO1; ISIN: DE000A1RFM03; Prime Standard) today announced the completion of the relocation of its subsidiary company, Innova Biosciences, into the Company’s existing facilities in Cambridge, UK.
The relocation follows the recent acquisition of Innova Biosciences by SYGNIS AG, and the continued integration of Innova within the SYGNIS Group of companies. This change completes the relocation of Innova’s R&D, manufacturing and logistics departments. To enable the relocation, the Company has invested in the development of 3,000 sqft of new laboratory space at its Cambridge facility. This has doubled the Group’s R&D capabilities in Cambridge and also provides the necessary space and resource required to meet the increasing demand for the Company’s services offering, as well as allow for expansion of its kit manufacturing capabilities.
The R&D facility at Cambridge will predominantly focus on proteomics product and technology development whilst genomics R&D will continue to be based at the Group’s facility in Madrid, Spain. Whilst the R&D effort is located in core centres of excellence in different geographic locations, the groups are interacting closely together on the Group’s core projects in the fields of liquid biopsy and lateral flow assay technology in development with several new joint projects feeding into product development pipeline.
Dr. Heikki Lanckriet, CEO and CSO of SYGNIS, commented: “We have seen rapid growth in demand for the innovative products and services across the entire spectrum of the Company’s offering ranging across the fields of genomics, proteomics and immunology. Amongst the drivers of this demand are Innova`s easy-to-use, cutting-edge bioconjugation technologies and services. With the combination of our sites in Cambridge, the acquisition and relocation of Innova into the SYGNIS Group has been completed. The relocation and site expansion sets the Group up well to continue along its strong growth path to continue to delivering new innovative and high added value products and services for our customers.”
About SYGNIS AG: www.sygnis.com
SYGNIS AG develops and commercialises value-added, easy-to-use, reliable products based on its proprietary technologies, offering a wide range of solutions that address key challenges in molecular biology. With the acquisitions of Expedeon Holdings, Ltd. in 2016 and both C.B.S. Scientific Company, Inc. and Innova Biosciences Ltd. in 2017, SYGNIS significantly expanded its product line and now covers the entire molecular biology workflow, including genomics, proteomics and tools as well as cutting-edge bioconjugation technologies and services. SYGNIS’ products are sold through a direct sales force and several distribution partners in Europe, the U.S. and Asia. The SYGNIS Group has offices in Germany, Spain and the UK; production sites in the UK and the U.S. and sales offices in Asia. The Company is listed on the Prime Standard segment of the Frankfurt Stock Exchange (Ticker: LIO1; ISIN: DE000A1RFM03).
### This publication is intended for information only and constitutes neither an offer to sell nor an invitation to buy securities. Some statements included in this press release, relating neither to proven financial results nor other historical data, should be viewed as forward-looking, i.e. not definite. Such statements are mainly predictions of future results, trends, plans or goals. These statements should not be considered to be total guarantees since given their very nature they are subject to known and unknown risks and imponderability and can be affected by other factors as a consequence of which the actual results, plans and goals of SYGNIS AG may deviate greatly from the established conclusions or implied predictions contained in such statements. SYGNIS does not undertake to publicly update or revise these statements in the light of new information or future results or for any other reason. ###