ExonHit Announces Termination of Agreement to Acquire RedPath

26-Oct-2010 - France

ExonHit Therapeutics announced the termination of the Combination Agreement for the acquisition of RedPath Integrated Pathology, Inc. Following Highmark’s recent decision to limit coverage of RedPath PathFinderTG® family of tests to the pancreatic cancer test only, the two companies were unable to agree on revised financial terms and conditions.

To accelerate its development as an internationally recognized diagnostic player, ExonHit is committed to pursuing its strategy of development via external growth and maintains its objective to acquire a revenue-generating molecular diagnostic company. Proceeds of the December 2009 capital increase will serve that purpose.

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