SDIX and OriGene Technologies Complete Sale of SDIX Life Science Assets to
NEWARK, Del. -- July 15, 2013
SDIX™ (NASDAQ: SDIX) today announced it has completed the sale of the assets
of its Life Science businesses to OriGene Technologies for $16 million.
Following this transaction, the Company will be renamed Special Diversified
Opportunities Incorporated (SDOI). OriGene Technologies is acquiring the
intellectual property, current inventory and commercial contracts, as well as
its equipment and will employ substantially all of the current staff. They
also will acquire the rights to the SDIX branding and will conduct business as
"We are excited to combine the two companies to build one of the most
comprehensive collection of high-quality antibodies for key applications both
in research and diagnostics fields," said Wei-Wu He, Ph.D., Chairman and Chief
Executive Officer, OriGene Technologies. "We believe the combined companies
will now be better able to serve our customers with a broader portfolio of
antibody products and services to help find the best solutions for their
antibody and assay needs.”
Steven Becker, Chairman of the board at SDOI commented “With the transaction
now closed the board of Special Diversified Opportunities Inc. will, as
described in our Proxy, undertake a process to determine the best use of the
company's cash, public company status and remaining assets, including net tax
operating losses. We look forward to creating a beneficial result for all SDIX
Broad Oak Capital Partners provided advisory services to SDIX for this
About OriGene Technologies (www.origene.com)
OriGene Technologies, Inc. develops, manufactures, and sells genome wide
research and diagnostic products worldwide. OriGene has developed an extensive
array of ultra-specific monoclonal antibodies called UltraMAB™ which offers
significant improvement over traditional antibodies in antibody specificity.
UltraMAB™ antibodies are validated by OriGene’s proprietary high density
microarray technology for a wide variety of antibody applications.
This news release may contain forward-looking statements reflecting SDIX's
current expectations. When used in this press release, words like
“anticipate”, “could”, “enable”, “estimate”, “intend”, “expect”, “believe”,
“can”, “potential”, “will”, “should”, “project”, “plan” and similar
expressions as they relate to SDIX are intended to identify said
forward-looking statements. Investors are cautioned that all forward-looking
statements involve risks and uncertainties, which may cause actual results to
differ from those anticipated by SDIX at this time. Such risks and
uncertainties include, without limitation, our ability to determine and
execute a strategy or strategies to make the best use of our cash, public
company status and remaining assets, including net tax operating losses, and
other factors more fully described in SDIX's public filings with the U.S.
Securities and Exchange Commission.
SDIX Company Contact:
Chief Financial Officer
OriGene Company Contact:
OriGene Technologies, Inc.
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