Epigenomics strengthens alliance with Affymetrix

The management and supervisory boards of Germany-based Epigenomics have increased the signed capital of the company by making partial use of its authorized capital against contributions in kind in the form of 304,791 novel non par value bearer shares issued to US diagnostics giant Affymetrix.

The receivables contributed are defined by the upfront-payments agreed under the firms' recently-closed strategic diagnostics platform alliance. In determining the number of shares to be issued, the value of Epigenomics' shares was at 5.22 euros. The share capital of the German firm, which is developing cancer diagnostics, will increase by 304,791 euros ($384,672) to approximately 16.7 million euros after registration of the capital increase.

The share capital increase is done under exclusion of subscription rights. DZ Bank AG is accompanying the listing of the new shares, which will entitle the holders to receive dividends as of January 1, 2006. By this measure, Epigenomics is planning to further strengthen and expand its relationship with Affymetrix.