Exiqon to divest its U.S. CLIA laboratory operation Oncotech, Inc.

Exiqon A/S (NASDAQ OMX Copenhagen: “EXQ”) today announced that it has started a process of divesting Oncotech, Inc., its certified CLIA laboratory operation in Tustin, California. As a result, Exiqon will recognize a non-cash loss on divestment and impairment of goodwill of approximately DKK 205 million and revises its full-year 2009 guidance accordingly. Exiqon’s diagnostic ambitions and long-term financial objective of reaching profitability by 2011 with current capital are unchanged.

Source: Exiqon