Clines acquisition approved at Extraordinary General Meeting
An extraordinary general meeting for Liv Diagnostics was held on the 5th of December. The EGM voted unanimously to approve the deal with Cline Scientific, where Cline acquires Liv Diagnostics business operations and company name.
96% of Liv Diagnostics shareholders voted for the acquisition. With the vote, the acquisition of Liv Diagnostics is completed. The completion date will be the 2nd of January 2020. For more information regarding the acquisition please read our previous press release: https://mb.cision.com/Main/12114/2956082/1137560.pdf
Cline Scientific and Liv Diagnostics have been working in close collaboration since Liv Diagnostics was founded in 2016. With the acquisition of Liv, Cline is strengthening their research and development efforts and with this enters the world of biotech.
Liv has developed an advanced early detection technology that can analyze tumor cells isolated from breast cancer patients to determine the risk of metastasis with higher precision than current methods available. As of today, there is no diagnostic tool to directly measure the breast cancer tumors’ ability to migrate and metastasize to distant organs such as the brain. This information is critical as metastasis is responsible for 90% of all cancer related deaths.
Liv Diagnostics’ team is comprised of cancer researchers from world renowned research institutions such as the Weill Cornell Medicine, New York University, Karolinska Institute, University of Gothenburg and Uppsala University. Recently Liv Diagnostic completed a pre-clinical study that showed their prototype is highly accurate at being able to detect the level of aggressiveness between tumor cells.
About Cline Scientific AB:
Cline Scientific is a Life Science company that sells proprietary research products and collaborates with industry players by jointly utilizing their products developed from their patented nanotechnology to control the functions of human cells in the laboratory. With Cline’s technology, it is possible to use stem cells safely to cure serious illnesses and to measure the ability of cancer tumors to spread for diagnostic purposes.
Cline Scientific AB
431 53 Mölndal