OpGen Provides Update on Curetis Group Company Ares Genetics Business
November 04 2019 - 7:30AM
OpGen, Inc. (Nasdaq: OPGN) reported an update on the business of
Curetis GmbH, the other party to the planned business combination
with OpGen. On October 28, 2019, Curetis, N.V. announced that its
wholly-owned subsidiary Ares Genetics GmbH (“Ares Genetics”) has
launched an early access program for its novel, artificial
intelligence (AI) powered, next-generation sequencing (NGS) based
molecular antibiotic susceptibility test (AST).
Information on antibiotic susceptibility of
pathogens is of utmost importance for clinical practice,
epidemiology and public health purposes as well as for the
development of pharmaceutical products in the infectious disease
sector. Ares Genetics therefore has developed a molecular AST that
will be marketed under the brand name ARESupa – Universal
Pathogenome Assay. It is an expanded version of the NGS-based
ARESupa initially launched in August 2019 for the identification of
pathogens and resistance genes. The new version of the ARESupa is
now capable of also accurately predicting antibiotic susceptibility
via AI-powered interpretation of high-throughput DNA sequencing
data.
Ares Genetics reports that it has received
commercial orders for more than 1,000 ARESupa tests, an order
volume exceeding EUR 500,000. Together with advanced bioinformatics
and AI services leveraging ARESdb for the diagnostics and pharma
industry, as well as access to certain rights, Ares Genetics has
contracted for and received orders amounting to more than 2 million
Euro in 2019 to date.
OpGen CEO Evan Jones stated that “we believe
this important update from Curetis N.V. shows the value of the
combination of our companies.”
OpGen and Curetis entered into a definitive
agreement to combine businesses on September 4, 2019. The closing
of the transaction under such definitive agreement has not yet
occurred and is subject to a number of significant closing
conditions, including receipt of approval from the stockholders of
OpGen, Inc. and the shareholders of Curetis, N.V. Until the closing
occurs, each of OpGen and Curetis are operating as stand-alone
businesses.
To read the full press release from Curetis, please click
here.
No Offer or Solicitation
This press release relates to the announcement
by Curetis N.V. that its wholly-owned subsidiary Ares Genetics GmbH
has launched an early access program for its novel, AI-powered NGS
molecular antibiotic susceptibility test. This press release is
neither an offer to purchase, nor a solicitation of an offer to
sell, any securities or the solicitation of any vote in any
jurisdiction pursuant to the proposed transactions or otherwise,
nor shall there be any sale, issuance or transfer or securities in
any jurisdiction in contravention of applicable law. No offer of
securities shall be made except by means of a prospectus meeting
the requirements of Section 10 of the Securities Act of 1933, as
amended.
Additional Information and Where to Find It
In connection with the transactions contemplated
by the Implementation Agreement (the definitive agreement related
to the proposed business combination between the Company and
Curetis GmbH), a Registration Statement on Form S-4 will be filed
with the Securities and Exchange Commission (the “SEC”). Investors
and security holders are encouraged to read the registration
statement and any other relevant documents filed with the SEC,
including the proxy statement/prospectus that will be part of the
registration statement, when they become available, because they
will contain important information about the proposed transaction.
The final proxy statement/prospectus will be mailed to stockholders
of the Company. Investors and security holders will be able to
obtain the documents free of charge at the SEC’s website,
www.sec.gov, or from the Company at its website, www.opgen.com.
About OpGen
OpGen, Inc. is a precision medicine company
harnessing the power of molecular diagnostics and informatics to
help combat infectious disease. We are developing molecular
information products and services for global healthcare settings,
helping to guide clinicians with more rapid and actionable
information about life threatening infections, improve patient
outcomes, and decrease the spread of infections caused by
multidrug-resistant microorganisms, or MDROs.
Our molecular diagnostics and informatics
products, product candidates and services combine our Acuitas
molecular diagnostics and Acuitas Lighthouse informatics
platform for use with our proprietary, curated MDRO knowledgebase.
We are working to deliver our products and services, some in
development, to a global network of customers and
partners. The Acuitas AMR Gene Panel (RUO) is intended
for Research Use Only and is not for use in diagnostic procedures.
The Acuitas Lighthouse Software is not distributed commercially for
antibiotic resistance prediction and is not for use in diagnostic
procedures. For more information, please
visit www.opgen.com.
Forward-Looking Statements
This press release describes a commercial update
announced by Curetis N.V., a party to a business combination
agreement with OpGen that has not yet closed. These statements
constitute "forward-looking statements" within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934, and are intended to qualify for
the safe harbor from liability established by the Private
Securities Litigation Reform Act of 1995. Such statements are
subject to risks and uncertainties that are often difficult to
predict, are beyond our control, and which may cause the future to
differ materially from expectations. We cannot assure you that the
proposed business combination transaction with Curetis N.V., which
is subject to significant conditions to close, will occur. For a
discussion of the most significant risks and uncertainties
associated with OpGen's business, please review our
filings with the Securities and Exchange Commission. You are
cautioned not to place undue reliance on these forward-looking
statements, which are based on our expectations as of the date of
this press release and speak only as of the date of this press
release. We undertake no obligation to publicly update or revise
any forward-looking statement, whether as a result of new
information, future events or otherwise.
OpGen Contact: Michael Farmer Vice President,
Marketing (240)
813-1284mfarmer@opgen.comInvestorRelations@opgen.com
Press Contact:Matthew BretziusFischTank
Marketing and PRmatt@fischtankpr.com
Investor Contacts:Joe Green Edison Group
jgreen@edisongroup.com
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