Argonaut Broadens Agreement to Sell Certain Assets to Biotage

Argonaut Technologies announced it has amended its definitive agreement with Biotage AB of Uppsala, Sweden to increase the purchase price to $21.2 million in cash and to include the sale of certain assets (excluding receivables) and the assumption of specified liabilities, including warranty service and maintenance, and accounts payable of up to $350,000 associated with its remaining Process Development Products and Services. Under the amended agreement Biotage will also take on the employment responsibility for additional Argonaut employees associated with its Process Development Business.

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