SQI Diagnostics to Acquire Scienion AG, a leader in microarray manufacturing

Scienion AG, a German-based microarray manufacturing equipment and microarray print and development services company today announced that it has entered into an agreement to be acquired by SQI Diagnostics Inc. (“SQI” or the “Company”) (TSX-V: SQD), a life sciences company that develops and commercializes proprietary technologies and products for advanced microarray diagnostics. SQI will acquire all of the share capital of Scienion AG.

Scienion AG is a market leader in microarray printing development, microarray production systems and contract microarray print and development services for the life sciences industry. We believe the proposed sale of Scienion to SQI, will further our combined entry into the market for providing enabling technologies for multiplexed protein, antibody, antigen and molecular (genetic) microarrays.

Specifically, we believe that our proposed sale wil

• enable us to combine our strength and technology leadership position in microarray printing, surface chemistry, and automation of microarray processes with SQI’s assay development processes and analytical systems for running microarray tests and the expertise of the two companies for highly technical microarray printing capabilities;
• accelerate the commercialization of our combined pipeline of custom microarray diagnostic products through the use of Scienion’s microarray print expertise, arrayer equipment and experience with complete “print solutions” with SQI’s automated microarray platforms;
• enable us with complimentary products and diagnostic tools that we can offer to our base of more than 400 customers, many of whom are potential customers for our combined service offerings and research use only and in vitro diagnostic products;
• expand our products and services in North America using SQI’s sales support for Scienion’s equipment;
• leverage Scienion’s sales and engineering support in Europe to market SQI’s suite of diagnostic products and services in Europe; The closing of the transaction is subject to a number of customary closing conditions and regulatory approvals, and is subject to financing.

For further information please contact: Scienion AG Chief Executive Officer Holger Eickhoff Phone: 49 30 6392 1700 Mail: eickhoff@scienion.com

SQI Diagnostics Inc.
Chief Financial Officer
Andrew Morris
Phone: 416.674.9500 ext. 229
Mail: amorris(at)sqidiagnostics.com

Media and Investor Relations
Adam Peeler
Phone: 416.815.0700 ext. 225
Mail: apeeler(at)equicomgroup.com