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SAN JOSE, Nov 02, 2006 /PRNewswire-FirstCall via COMTEX News Network/ -- In response to an unsolicited bid from a third party to acquire all of the outstanding securities of Applied Imaging Corp. ("Applied Imaging") (OTC Bulletin Board: AICX), Applied Imaging today announced that its definitive agreement to be acquired by Genetix Group plc. ("Genetix") had been amended on November 2, 2006. The amendment reflects an increase in the consideration payable by Genetix to Applied Imaging's stockholders from $3.70 per share to $3.80 per share.
A special meeting to approve the proposed acquisition is still expected to take place on Tuesday at 10:00 a.m. on November 21, 2006 at Applied Imaging's headquarters in San Jose, California.
Applied Imaging Corp., based in San Jose, California, is a leading supplier of automated imaging and image analysis systems for the detection and characterization of chromosomes and molecular markers in genetics and cancer applications. The Company markets a wide range of imaging and image analysis systems for fluorescence and brightfield microscopy, including the Company's Ariol(R) and CytoVision(R) product families. Applied Imaging has installed over 4,000 systems in over 1,000 laboratories in more than 60 countries. The Company is also developing a system for the detection, quantification and characterization of circulating tumor cells from the blood of cancer patients. More information about Applied Imaging can be found at www.aicorp.com.
Genetix provides applications for cell biology, proteomic and genomic research. It supplies many leading academic institutions worldwide and major international pharmaceutical and biotechnology companies involved in the drug discovery process. These include GSK, AstraZeneca and Novartis. Through its R&D expertise and scientific resource, Genetix is committed to the continual development of innovative solutions to accelerate the rate of global scientific discovery. The Company made a significant contribution to the Human Genome Project by supplying high-throughput instruments to seven of the eight leading laboratories of the consortium. Currently Genetix's cell biology instrumentation is finding wide acceptance in the biopharmaceutical industry. Genetix is based in New Milton, Hampshire, UK, with offices in the USA and Germany. Genetix was established in 1991. |