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Warnex sells its pathogen detection business to AES Laboratoire

09 Jul 2007 - Warnex Inc. announced that it has sold the assets of its pathogen detection business to AES Laboratoire, a French manufacturer and supplier of laboratory equipment based in Bruz, France. The transfer of assets was effective as of June 28, 2007.
 
Warnex sold the assets related to its pathogen detection technology from its subsidiaries Warnex Research Inc. and Warnex Diagnostics Inc. for the total price of $900,000 in cash, one third to be paid on closing and one third to be paid on each of the first and second anniversary dates of the closing. Kirchner & Company, Inc., a U.S.-based investment banking firm, acted as agent in this sale. As part of this agreement, Warnex will rent to AES Laboratoire 4,340 square feet of production facilities and laboratory space for a period of up to two years.