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CyGenics' Subsidiary Signs Distribution Agreement with CombiMatrix
Sydney, Nov 30, 2005 (ABN Newswire) - Leading cell therapy company CyGenics Limited (ASX: CYN) announced today that its wholly-owned subsidiary, Cell Sciences Ltd, has entered into a non-exclusive distribution agreement with CombiMatrix group of Acacia Research Corporation (Nasdaq: CBMX:ACTG)(CBMX)(ACTG), to distribute CombiMatrix products and services in Singapore.
Under the terms of the agreement, Cell Sciences will market and sell CustomArrays(tm), CatalogArrays(tm) and CustomArray Synthesizers, which are semiconductor-based tools for use in identifying and determining the roles of genes, and the recently introduced Influenza Research Microarray, to the Southeast Asian market.
"We are very pleased to have expanded our distribution network into Southeast Asia," said Michael Tognotti, Vice President of Sales and Marketing for CombiMatrix. "I am confident that by joining forces with Cell Sciences, we can accelerate sales growth and enhance our collective market share." "Cell Sciences has identified CombiMatrix's platform technology to rapidly produce customizable arrays for applications in the areas of proteomics, genomics and nanotechnology," said Mr Steven Fang, Group CEO, CyGenics. "This has a huge market potential in the Asia Pacific region and we look forward to a long and fruitful relationship."
About Cell Sciences
Cell Sciences is a subsidiary of CyGenics which is listed in the Australian Stock Exchange (ASX). It has an established network covering Singapore, Malaysia, Thailand, Indonesia, Philippines, Hong Kong, China, Australia and USA. Cell Sciences is a supplier of diagnostics for life science research and manufactures proprietary products.
Cell Sciences drives the sales, marketing and distribution for biomedical products. In Jan 2004, the company launched a patented 3-D growth scaffold and the market's first disposable cell culture spinner systems. Cell Sciences markets products targeting an extensive customer base comprising laboratories (research, clinical and bioprocessing), industry (biopharmaceuticals), specialists and hospitals. The company focuses on product lines core to the strategic business of the CyGenics Group in areas of stem cell biotechnology and regenerative medicines, as well as products that add to a more comprehensive offering to the customers we serve.
About CORDLIFE
CordLife (ASX: CBB), formerly known as CyGenics, is a healthcare company focused on tissue and cord blood banking. CordLife owns and operates the largest network of private cord blood banks in the Asia Pacific region and has a portfolio of stem cell technology related investments. Its major subsidiary, CordLife Pte Ltd, is an Asian regional cord blood bank that operates a state-of-the-art AABB (formerly known as the American Association of Blood Banks) accredited facility in Singapore and a separate compliant facility in Hong Kong. CordLife’s facility was the first private cord blood bank to be set up in Singapore, and among the first in Asia. It is the only AABB-accredited cord blood bank in this region. These banking facilities comprise full processing and cryogenic storage capabilities.
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