17.10.08
Lab21 spins out environmental monitoring business to Cogent Environmental Ltd

Lab21 Corporate News Item 45

Cambridge, 17 Oct 2008 …Lab21 is pleased to announce that it has sold its environmental business to Cogent Environmental Ltd, a newly established company backed by Sultan Scientific Ltd. Financial details of the deal have not been revealed.

Graham Mullis , CEO of Lab21 commented; “I am delighted to have completed this deal which enables Lab21 to focus management and resources on the development of its healthcare diagnostics business whilst maintaining an equity stake in the new environmental business. With the experience of the management team and the investment from Sultan Scientific I am sure Cogent Environmental will continue to grow internationally.”

Cogent Environmental will be led by Chris Welsh , the Managing Director of the environmental division at Lab21 and the Board of Directors will include Sir John Banham and Dr Mike Hudson .

“With the increasing importance placed on good environmental practice and legislation in this area Cogent Environmental can provide accurate environmental and process information, enabling our clients in the industrial manufacturing, mining, agriculture and public services sectors to take cost effective and timely actions”, said Chris Welsh , Managing Director of Cogent Environmental.

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About Lab21
Lab21 is a global provider of state-of-the-art diagnostic products and services, supporting drug discovery and healthcare. Its customers include healthcare providers, pharmaceutical and biotechnology companies.

The Company has a growing test portfolio providing companion diagnostics and high technology assays for the growing integration of personalised medicine into healthcare. These services and products are currently in infectious diseases, oncology and pharmacogenetics areas with emerging interests in cardiovascular and metabolic disease.

Lab21's clinical reference laboratory and corporate office is based in Cambridge , UK and the Company's investors include Merlin Biosciences and Kreos Capital

Website: www.lab21.com

Contacts at Lab21:

Media relations for Lab21:
College Hill
Tony Stephenson, Account Manager
Sue Charles, CEO
Claire Mosley, Account Executive
t : +44 (0) 20 7866 7864
e: lab21@collegehill.com

 

At Lab21:
Grham Mullis, CEO
Dr Berwyn Clarke, CSDO
t : +44 (0)1223 395450
e: graham.mullis@lab21.com or berwyn.clarke@lab21.com

 

About Cogent Environmental
Cogent has ambitions to build itself into a broader more integrated provider of environmental and process monitoring technologies and services including soil, water and atmospheric systems. We are committed to deliver environmental and process information which enables our clients in the industrial manufacturing, mining, agriculture and public services sectors to take cost effective and timely actions based on reliable information, good judgment, reasoning and evidence.

Chris Welsh – Managing Director.
email: chris.welsh@cogentenvironmental.co.uk
tel: +44 7733 266993

Mike Hudson – Sultan Scientific Ltd,
Email: healthventures@lineone.net
Tel: +44 7812 345301