ReproCELL, Inc. (JASDAQ:4978) concluded a contract to acquire 98.28% stake in BioServe Biotechnologies (India) Pvt Ltd from Cancer Genetics, Inc. (NasdaqCM:CGIX) for $1.9 million on April 26, 2018. Under the terms, ReproCELL, Inc will acquire 1.3 million shares of BioServe Biotechnologies (India) Pvt Ltd. Post acquisition, BioServe Biotechnologies (India) Pvt Ltd will become a subsidiary of ReproCELL, Inc. The transaction is resolved by the Board of Directors of ReproCELL, Inc on April 26, 2018. The transaction is expected to be completed on April 26, 2018. ReproCELL, Inc will pay an advisory fee of $0.06 million.

ReproCELL, Inc. (JASDAQ:4978) completed the acquisition of 98.28% stake in BioServe Biotechnologies (India) Pvt Ltd from Cancer Genetics, Inc. (NasdaqCM:CGIX) on April 27, 2018. Under term of the agreement, Cancer Genetics received an upfront payment of $1.6 million in cash from ReproCELL and the remaining balance will be payable approximately 6 months from closing and is subject to BioServe's revenues for a four month period post-closing being equivalent to the same four month period in 2017.