Corgenix Cancels Genesis Bioventures Merger

By Labmedica staff writers
Posted on 08 Feb 2005

Due to a lack of progress toward the completion of the financing and the expiration dates on legal documents, Corgenix Medical Corp (Denver, CO, USA) has terminated its proposed U.S.$6 million merger with Genesis Bioventures (Surrey, Canada).

Corgenix develops and manufactures anti-phospholipid test kits, and its anticardiolipin (aCL) assay has been cleared by the U.S. Food and Drug Administration (FDA). The company is focused on the development of specialized diagnostic kits for immunology disorders, vascular diseases, and bone and joint disorders.

"We regret that it was necessary to terminate the proposed merger after spending so much time and energy on it,” stated Douglass Simpson, president of Corgenix. "However, on the positive side, Corgenix is investigating a broad range of business opportunities, including the pursuit of our own equity financing.”

Related Links:
Corgenix
Genesis Bioventures