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Decision Diagnostics receives unsolicited proposal for company, asset sale


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Decision Diagnostics receives unsolicited proposal for company, asset sale

Decision Diagnostics Corp. received three separate unsolicited inquiries and propositions from three parties, two based in the U.S. and one internationally, for the wrapping of its TBG technology into one of three types of transactions.

The Los Angeles-based company said the proposals included an offer to sell either the company or its assets with valuation and bonus placed on its GenChoice test strip and TBG technologies for its diabetes testing system.

In addition, the company received an offer for an exclusive licensing deal for its TBG technology inclusive of all new uses or products that follow its GenUltimate TBG diabetes test strip.

Decision Diagnostics also received a proposal for a joint venture for the international rights to TBG, to be manufactured in Japan or by that party's Korean agents.

CEO Keith Berman said the company is not ready to make a choice of a preferred type of transaction. He added that the company expects to receive another proposal from a technology and manufacturing conglomerate around June 10.

Decision Diagnostics plans to conduct two clinical studies of GenUltimate TBG meters with 150 and 250 donors, respectively.

Berman also noted that the company's TBG product will be launched in select international markets from June 6.