Biotechnology Division of Diagnostic Medical Systems S.A. agreed to acquire Hybrigenics Société Anonyme (ENXTPA:ALHYG) in a reverse merger transaction on September 17, 2019. Pursuant to the terms, Hybrigenics Société Anonyme will acquire Biotechnology Division of Diagnostic Medical Systems and in return will issue 80% stake. The transaction is subject to approval from shareholders of Hybrigenics Société Anonyme in a shareholder meeting scheduled on September 20, 2019.

The transaction is approved by shareholders of Diagnostic Medical Systems. The transaction was approved by the shareholders of Hybrigenics at a combined general meeting on September 16 and 20, 2019 respectively. As of October 8, 2019, the Autorité des marchés financiers (AMF) provided a a derogation to the obligation to submit a public offer for the shares of Hybrigenics. Atout Capital acted as financial advisor to DMS. Touzet Bocquet & Associés and Jean-François Tramoni-Venerandi acted as legal advisors of DMS.