Genovis signs Letter of Intent for the acquisition of CRO company

Genovis signs Letter of Intent for the acquisition of CRO company

Genovis, a company based on nanotech, has today signed a Letter of Intent
regarding the acquisition of Eijdo research AB. Eijdo is a CRO company
specialised in imaging using magnetic resonance. The companies will immediately
commence a collaboration which means that Genovis is secured access to
specialist know-how and unique equipment The acquisition is intended to be
completed through a directed share issue.

- I know that the Eijdo research management team has worked together for several
years in the area of contrast media research at Amersham Health/GE Healthcare
and lately at Imagnia AB, which is a CRO company. The specialist know-how they
possess together with their experience from contract research will strengthen
Genovis. The combination Genovis and Eijdo research opens endless possibilities
to use the potential of both organizations at maximum, and it reinforces the
business model for our products and services in a very competitive manner. I
truly look forward to launch this project, says Sarah Fredriksson, CEO Genovis
AB. 

Eijdo research AB provides broad know-how in physics, biology and biochemistry
which enables preclinical magnetic resonance (MR) studies that uses equipment of
clinical relevance. For example, products intended for clinical use can be
evaluated in the early development phase, without spending the substantial costs
involved when clinical MR systems are used. 

- The unique combination of our special competences means new opportunities to
bring these biologically interesting nanostructues into the imaging world.
Nanotechnology is a new and exciting area for Eijdo, and we see great potential
for the technology when used for imaging purposes, says Anna Gisselsson, CEO
Eijdo research AB.

Find out more, contact:
Sarah Fredriksson, CEO, Genovis AB
Tel: +46 46 10 12 35
sarah.fredriksson@genovis.com

Genovis is a biotech company on the leading edge of nanotechnology and
nanoparticles. The company's patented nano-induced magnetic transfer (NIMT®)
technology was developed to facilitate effective preclinical research for the
life science industry. Genovis shares are listed on the First North OMX Nordic
Exchange. Mangold Fondkommission is our certified advisor and liquidity
guarantor.