Diagnostic Hybrids Inc. Acquires Everett, WA-Based Cell Culture Business

Business Wire, July 19, 2002

Business Editors, Health/Medical Writers

BIOWIRE2K

ATHENS, Ohio--(BW HealthWire)--July 18, 2002

Diagnostic Hybrids Inc. today announced it has closed on the acquisition of the in vitro diagnostic cell culture business NeoGenex Inc. in Everett, Wash.

The announcement was made jointly by David R. Scholl, Ph.D., president and CEO of Diagnostic Hybrids, and Barbara Radany, president of NeoGenex.

The acquisition of NeoGenex, along with the February 2002 acquisition of BioWhittaker's in vitro diagnostic cell culture product line, represents a continued effort by Diagnostic Hybrids to bring the most innovative cell culture and diagnostic products to more clinical laboratories in the United States, Canada and Europe.

"This purchase unites DHI products and services with an expanded laboratory group whose testing capability and turn-around time can be greatly improved using DHI's newest proprietary developments in cell culture technology," Scholl said.

Radany commented that NeoGenex's focus on customer service and detail is mirrored at DHI. "At NeoGenex, we have always prided ourselves on making the customer satisfied with our attention to detail," she said. "DHI's success is modeled on the same principles. And their unique product offerings in genetically engineered cells and soon-to-be-introduced frozen cell technology really offer the customer exciting, cost-effective options.

"We look forward to joining with DHI to bring these new products forward," Radany added, "and we remain committed to making the transition of all customers to DHI as seamless as possible."

The plan is to immediately transition manufacturing of in vitro cell cultures for most customers to Diagnostic Hybrids. "With the integration of our BioWhittaker customers complete," Scholl said, "we are in an excellent position to meet the additional manufacturing and customer service demands of NeoGenex customers."

Diagnostic Hybrids currently provides a range of patented and proprietary products that are marketed to clinical virologists and allied health care and research professionals involved in testing, screening and quality assurance. These products include:

-- Bruce Johnson, Director, Ohio Department of Development, Columbus, Ohio 800-848-1300 (x27499); bjohnson@odod.state.oh.us

-- Pat Valente, Deputy Director, Ohio Department of Development, Columbus, Ohio 800-848-1300 (x63070); pvalente@odod.state.oh.us

-- Mike Jacoby, Regional Representative, Ohio Department of Development, Marietta, Ohio 740-373-5150; region11@ee.net

-- Frank Samuel, Technology Adviser, Office of the Governor, State of Ohio, Columbus, Ohio 614-728-4192; fsamuel@gov.state.oh.us

-- Tony Dennis, President, Edison Biotechnology Center, Columbus, Ohio 216-229-0400; tony_dennis@ebtc.org

-- Dr. John Bantle, Vice President of Research, Ohio University, Athens, Ohio 740-593-0370; bantle@ohiou.edu

-- Dr. David Wight, Director, Edison Biotechnology Institute, Ohio University, Athens, Ohio 740-593-4713; wight@ohiou.edu

-- Linda Clark, Director, Ohio University Innovation Center, Athens, Ohio 740-593-1803; clark@ohiou.edu

Primary Contacts

David Scholl, Ph.D., President and CEO, Diagnostic Hybrids Inc., Athens, Ohio: scholl@dhiusa.com, (800) 344-5847.

James L. Brown, Senior Vice President and COO, Diagnostic Hybrids Inc., Athens, Ohio: brown@dhiusa.com, (800) 344-5847.

Related Contacts

-- Bruce Johnson, Director, Ohio Department of Development, Columbus, Ohio 800-848-1300 (x27499); bjohnson@odod.state.oh.us

-- Pat Valente, Deputy Director, Ohio Department of Development, Columbus, Ohio 800-848-1300 (x63070); pvalente@odod.state.oh.us

-- Mike Jacoby, Regional Representative, Ohio Department of Development, Marietta, Ohio 740-373-5150; region11@ee.net

-- Frank Samuel, Technology Adviser, Office of the Governor, State of Ohio, Columbus, Ohio 614-728-4192; fsamuel@gov.state.oh.us

-- Tony Dennis, President, Edison Biotechnology Center, Columbus, Ohio 216-229-0400; tony_dennis@ebtc.org

-- Dr. John Bantle, Vice President of Research, Ohio University, Athens, Ohio 740-593-0370; bantle@ohiou.edu

-- Dr. David Wight, Director, Edison Biotechnology Institute, Ohio University, Athens, Ohio 740-593-4713; wight@ohiou.edu

-- Linda Clark, Director, Ohio University Innovation Center, Athens, Ohio 740-593-1803; clark@ohiou.edu

About Diagnostic Hybrids:

Diagnostic Hybrids, established in 1983 in Athens, Ohio, with assistance from Ohio University and private investors, develops and manufactures diagnostic cell cultures and virus detection kit systems used in the clinical diagnosis of infectious and autoimmune diseases. The company recently moved into a new, state-of-the-art manufacturing and research and development facility at the Ohio University Research and Enterprise Park in Athens, Ohio. The firm currently employs more than 60 people at its Athens headquarters.

The acquisition underscores the firm's commitment to the state of Ohio, and southeastern Ohio in particular, by continuing to capitalize on proprietary technologies developed with Ohio-based scientific and clinical collaborators as well as a favorable entrepreneurial climate for technology companies, a skilled and hard-working local labor force and the continued support of Ohio University, the Ohio Edison Biotechnology Center and the Ohio Department of Development. The company is listed as Stop 180 on the Ohio Department of Development's e/corridor initiative, a state-sponsored effort designed to match public resources to private economic development to encourage the retention and attraction of high-technology jobs throughout Ohio.