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Blitz F16-83 aims to acquire Epigenomics
May 2017
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BERLIN—Late in April, Epigenomics AG, Cathay Fortune International Co. Ltd. (CFIC) and Blitz F16-83 GmbH (which will in the future be known as Summit Hero Holding GmbH and is a subsidiary of CFIC) entered into a business combination agreement regarding the takeover of Epigenomics by the bidder, Blitz F16-83.
 
Pursuant to the agreement, the bidder has agreed to launch a voluntary public takeover offer pursuant to the German Takeover Act to acquire all of the outstanding ordinary shares of Epigenomics. The transaction values Epigenomics’ equity, including net cash, at approximately €171 million.
 
The intention is to maintain the locations of the business operations of Epigenomics and its main business activities at significant locations, including the company’s headquarters in Berlin. The current workforce of Epigenomics is not intended to be reduced as a consequence of the transaction. In the event the takeover is successful, the plan is also to keep the current members of the executive board in place, with Greg Hamilton as CEO of Epigenomics and Dr. Uwe Staub as chief operating officer.
 
Epigenomics is a molecular diagnostics company focused on blood-based detection of cancers using its proprietary DNA methylation biomarker technology. The company develops and commercializes diagnostic products across multiple cancer indications with high medical need.

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