The company believes that the changes are essential after the termination of clinical development activities in December 2011.
Sygnis’ new business will focus on developing and commercializing X-Pol’s DNA amplification technologies and products. It signed a global license agreement with Qiagen and authorized X-Pol technology platform.
A new core business will replace the company’s activities in the capital intensive and drug development sector.
The Sygnis supervisory board chairman Dr. Cristina Garmendia said: "It is an honor to help shape this first merger between a German and a Spanish company in the biotechnology industry, and it is my ultimate goal to lead SYGNIS to success in the European and international markets."
Sygnis will acquire 100% ownership of X-Pol by way of a capital increase against contribution in kind. The former X-Pol shareholders will hold 77.5% of Sygnis shares.
As a part of the comprehensive strategic realignment, Sygnis supervisory and management boards were aligned with the new strategy and shareholder structure.