OpGen Entered Into An Agreement To Sell Its Commercial Customer Contracts And Installed Base Of Unyvero Systems To Camtech Pte Ltd For $218,000

OpGen, Inc. Delist

OpGen, Inc.

OPGN

0.46

Delist

OpGen, Inc. (NASDAQ:OPGN, "OpGen" or "the Company"))))) announced today that it entered into an agreement to sell its commercial customer contracts and installed base of Unyvero systems to Camtech Pte Ltd ("Camtech"), a Singaporean family office for $218,000. The transaction follows Camtech's prior acquisition of all of Curetis GmhH's ("Curetis"), the Company's subsidiary, Unyvero assets, rights and businesses, as part of Curetis' insolvency proceedings.

 

In addition, the Company's subsidiary, Ares Genetics GmbH, sold all of its assets, including the ARESdb database and intellectual property portfolio to bioMerieux S.A., as part of Ares Genetics' insolvency proceedings. Since the sales of both Curetis and Ares Genetics' assets occurred as part of their insolvency proceedings, OpGen did not participate or have any involvement in such transactions.

OpGen plans to work with Camtech and the Curetis team during the upcoming months to transfer and transition its U.S. Unyvero customers and business. OpGen also offered Camtech the opportunity to acquire its remaining inventory of Unyvero systems for up to an additional $176,000. Until such sale for the remaining inventory is completed, OpGen will maintain commercial operations and service support for the Unyvero systems.

The Chairman and CEO of OpGen, David Lazar, commented: "These transactions are consistent with our strategy of preparing OpGen for a potential strategic transaction, including a potential reverse merger of a private company into OpGen. We believe a strategic transaction would be an attractive proposition to OpGen stockholders who could benefit from future value growth."

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