Majmudar & Partners advised Venaxis, Inc. (Nasdaq: APPY), in connection with its transaction with Strand Life Sciences Private Limited (Strand LS) under which the Strand LS shareholders and employees and directors who are option holders in Strand LS will own directly and beneficially, approximately 68% of Venaxis and the current shareholders of Venaxis will own approximately 32% of Venaxis. The transaction is structured as purchases, by Venaxis, of the Strand LS shares from the Strand LS shareholders, followed by an immediate re-investment of those sale proceeds, by the Strand LS shareholders, into Venaxis common stock, to be completed in two closings. The transaction also involves purchase of substantially all of the assets and liabilities of Strand Genomics, Inc., by a Venaxis subsidiary.

Venaxis is an in vitro diagnostic company which has been focused on the clinical development and commercialization of its CE Marked APPY1 Test, a rapid blood-based test for appendicitis. Strand LS is a genomic profiling company that uses next-generation sequencing technology aimed at empowering cancer care. The transaction seeks to align Strand LS’ proven technological expertise in genomic profiling, bioinformatics and data curation with Venaxis’ financial resources, NASDAQ public listing and key management personnel.

Partner Rukshad Davar led the team from Majmudar & Partners on this transaction.