Nanogen will use the proceeds from the sale for working capital, acquisitions and other general corporate purposes.
The investment in Nanogen coincides with Fisher's purchase of Athena Diagnostics, Inc. Nanogen and Fisher will collaborate to expand the use of Athena's proprietary markers and diagnostic assays.
"We are very pleased to initiate this relationship with Fisher," said Howard C. Birndorf, chairman and CEO of Nanogen.
"Fisher shares our vision of developing diagnostic technologies and products for personalized medicine."
"This is yet another indication that molecular diagnostics for personalized healthcare is gaining momentum and being adopted by mainstream diagnostic laboratories."
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
All of the shares of common stock were offered to Fisher Scientific International Inc. pursuant to an effective registration statement that was filed on June 28, 2005.