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QIAGEN Manchester terminates first statement of work with HTG Molecular

HTG Molecular Diagnostics Inc. said QIAGEN Manchester Ltd. terminated its first statement of work related to the development and use of a next-generation sequencing-based clinical trial assay.

The termination of the statement, which relates to one of three development programs, is the subject of a sponsor project agreement between QIAGEN and an unnamed company.

The termination came after the unnamed company's project-related phase 3 drug trial failed to meet its endpoint.

Each of the three development programs is for a different pharmaceutical company under the commercialization and manufacturing agreement.

QIAGEN North American Holdings Inc. owns 833,333 shares of HTG Molecular and holds a subordinated convertible promissory note issued by the company in the principal amount of $3 million.

QIAGEN Manchester and QIAGEN North American are units of Qiagen NV.