SciGen : SALE OF ASSETS

S a le of S c iGe n's Intangible Asset

The Board of Directors of SciGen Limited (ASX : SIE) (the "SciGen") are pleased to announce the conclusion of an Agreement for the sale of its rights in the design for the construction of a facility for the manufacture of recombinant human insulin (the "IP") to Bioton S.A. ("Bioton") for a cash consideration of US$11 million ("Transaction"). This sale is conditional upon the fulfilment of conditions precedent by 31 December 2014 and also includes the approval of SIE shareholders.
As SciGen does not intend to set up a human insulin manufacturing facility, the Board of Directors have approved the disposal of the IP which is not in use or likely to be in use in the foreseeable future. The IP will be sold at cost and there will be no loss upon its disposal. The proceeds from the Transaction will be used to decrease the value of the SciGen's debt position towards Bioton.
This Transaction, subject to the approval and consents of all relevant authorities is also subject to SciGen's shareholders approval for the purpose of ASX Listing Rule 10.1. The Notice of Extraordinary General Meeting for the approval of this transaction will be sent out in due course.

SciGen Ltd is a progressive biopharmaceutical company involved in co-developing and marketing genetically engineered biopharmaceutical products for human healthcare. SciGen focuses in the areas of gastroenterology, endocrinology and immunology. Its product portfolio includes therapeutics such as rhuman Growth Hormone, rhuman Insulin and GCSF.
SciGen has acquired the rights to manufacture, distribute and market biopharmaceutical products under exclusive licensing arrangements. SciGen's portfolio currently includes proprietary biotechnology-derived products, and biosimilar products, which allows for faster entry into the market, as the biogeneric products have undergone much of the clinical development and trials required to bring new drugs to market. This minimises the risks
associated with early stage product development.

Telephone : + 61 2 9485 1800 Facsimile : + 61 2 9485 1888 Website: www.scigenltd.com
SciGen currently undertakes R&D activities in collaboration with strategic partners and institutions.
SciGen's major strength lies in its ability to recognise the potential of new products in their early stages of development. Through joint collaboration with its strategic partners, SciGen uses its extensive expertise in regulatory and clinical environments, in conjunction with marketing and promotional infrastructure, to bring to market products which will have significant long-term benefit.
SciGen's business was established in 1988. SciGen is a Singapore biotechnology company, publicly listed on the Australian Stock Exchange (ASX code SIE). SciGen's headquarters is in Singapore and it also has subsidiary companies and offices in Australia, South Korea, China, and India, distribution channels in China, India, Indonesia, Malaysia, Myanmar, Pakistan, Philippines, Thailand and Vietnam, manufacturing facility in India and a contract manufacturer
in Poland, Bioton S.A.

Telephone : + 61 2 9485 1800 Facsimile : + 61 2 9485 1888 Website: www.scigenltd.com

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