Author: Staff

Clairvest Group Inc. has exited PEER 1 Network Enterprises Inc., selling the company to Cogeco Cable Inc. In August 2009, Clairvest invested $25.2 million in PEER 1. Under terms of the sale, Clairvest received sale proceeds of $79.5 million which took Clairvest’s total proceeds over the investment’s life to $81 million, which equates to 3.2 times invested capital and an internal rate of return of 40%.

PRESS RELEASE

Pursuant to a statement released on December 21, 2012, Clairvest Group Inc. CA:CVG +1.25% and Clairvest Equity Partners III Limited Partnership (“CEP III”, collectively “Clairvest”) announced today the sale of their common shares of PEER 1 Network Enterprises Inc. (“PEER 1″) to Cogeco Cable Inc. (“Cogeco Cable”).

In August 2009, Clairvest invested $25.2 million in PEER 1. Under terms of the sale, Clairvest received sale proceeds of $79.5 million which took Clairvest’s total proceeds over the investment’s life to $81 million, which equates to 3.2 times invested capital and an internal rate of return (“IRR”) of 40%. Consistent with its beneficial ownership, Clairvest Group Inc. realized 25% of this amount, or $20.3 million, compared to the September 30th carrying value of $14.7 million.

“When we were looking to invest in the IT infrastructure industry, PEER 1 was by far our first choice based on its financial metrics, scale, profitability and management,” said Ken Rotman, Co-CEO of Clairvest. “The financial return achieved on this investment is a tribute to the Company’s management team who has done an outstanding job at strategically growing PEER 1 to become one of the leading companies in its market.”

Since Clairvest made its investment, PEER 1 embarked upon an aggressive capital investment program. Over the past two years, the company completed the construction of two flagship data centres in Toronto and the UK. Significant investment in human capital and physical infrastructure in the UK improved PEER 1′s market position and enabled it to purchase a UK competitor in July 2012. This acquisition moved PEER 1 to one of the market leaders in the UK.

“We appreciate the support provided by Clairvest over the past three and a half years,” commented Fabio Banducci, CEO of PEER 1. “The addition of Clairvest to our shareholder base and board of directors was an important part of the overall upgrade to our organization.”

“PEER 1 is a great example of an internet infrastructure provider that continues to innovate and move upmarket, thereby reaping the benefits of a high quality customer base,” said Mitch Green, Principal and IT Services domain lead for Clairvest. “PEER 1′s management does a terrific job of investing resources into projects that enhance the service offering and produce sound economic results, which make it an attractive strategic acquisition for Cogeco Cable. We wish this outstanding group continued success in the years to come,” added Mr. Green.

About Clairvest

Clairvest Group Inc. is a private equity management firm which invests its own capital, and that of third parties through the Clairvest Equity Partners limited partnerships, in businesses that have the potential to generate superior returns. In addition to providing financing, Clairvest contributes strategic expertise and execution ability to support the growth and development of its investee partners. Clairvest realizes value through investment returns and the eventual disposition of its investments.

Photo courtesy of Shutterstock.

Insight Venture Partners has promoted Ryan Hinkle to Managing Director. Hinkle joined the firm in 2003, and has led investments in companies including PluralSight and SmartSheet.

PRESS RELEASE
Insight Venture Partners, a leading growth investor in global SaaS-based software, e-Commerce, Internet and data-service companies, is pleased to announce the promotion of Ryan Hinkle to Managing Director. This formalizes the leadership role Ryan has played in the past 24 months and recognizes his contribution to Insight since he joined the firm in 2003.

“Ryan has engaged in a core investment role at Insight over the past decade and will continue to provide outstanding leadership in his new role as a managing director,” said Deven Parekh, managing director at Insight Venture Partners. “He becomes our eleventh managing director and will support the firm’s growth through our next decade.”

Ryan has led investments globally in Internet, e-Commerce, infrastructure and application software companies. His 16 investments to date comprise flexible financing structures in growth equity, leverage buyouts, growth buyouts, and platform roll-ups, while his track record includes three exits: Argus Software (acquired by Altus Group Ltd), Football Fanatics (acquired by GSI Commerce, now eBay) and Punch! Software (acquired by Navarre Corporation).

In 2012, Ryan invested in three companies: Branding Brand (a mobile applications platform for retailers), PluralSight (high-quality online training for hardcore technology developers), and SmartSheet (a SaaS-based project management and collaboration application). These investments join Ryan’s existing investments in AdColony, ECi Solutions and Ozsale, where he is a member of the Board of Directors. Ryan also has worked on sourcing and investing in Chegg, Fanatics, Hayneedle, Kony Solutions, Newegg, Syncsort and Twitter. Ryan works closely with the executives at these companies and has stepped in as deputy CFO on several occasions.

At Insight, Ryan is a key manager of the Analyst program, with responsibility for recruiting, training, and mentoring new team members.

About Insight Venture Partners

Insight Venture Partners is a leading venture capital and private equity firm investing in on-premise and SaaS-based software, e-Commerce, Internet and data-services companies. Founded in 1995, Insight has raised more than $5 billion and made more than 150 investments worldwide. Our mission is to find, fund and work successfully with visionary executives who are driving change in their industries. We provide management with practical, hands-on growth expertise to foster their long-term success and commit to supporting organic and inorganic growth.

Actis has appointed Arjun Oberoi as global healthcare sector head, and Ivy Santoso as Indonesian country head, the firm announced. Santoso spent over ten years as Indonesian country head for Avenue Capital, a New York based investor. Most recently, Oberoi was Head of International Strategy & Business Development at Stryker Corporation.

PRESS RELEASE
Actis, the pan-emerging markets private equity firm, today announced the appointment of Arjun Oberoi as global healthcare sector head and Ivy Santoso as Indonesian country head.

Arjun will head Actis’s global healthcare sector, an area of increasing interest for the firm as an ageing population, changes in lifestyle, increasing income, and better insurance coverage continue to drive demand for high quality medical products and services across emerging markets. Actis’s current healthcare investments include hospital chain – Sterling Add-Life, clinical research organisation – Veeda, healthcare IT provider – Anthelio, and the largest local player in the Chinese endoscopy consumable sector, Nanjing Micro-Tech.

Ivy will be Actis country manager for Indonesia, a country now seen as a strategic location for private equity investment, boasting some of the most impressive growth rates in the region and a stable government and regulatory system.
Arjun Oberoi trained and worked as a physician in Edinburgh and London before joining McKinsey’s healthcare practice in New York. He subsequently joined Pfizer in the US and held positions in business development and strategic planning in Europe and Asia Pacific before moving to Beijing to run one of Pfizer China’s business units. In 2008, Arjun relocated to Singapore to head Sanofi’s business development efforts in Asia Pacific. Most recently, Arjun was Head of International Strategy & Business Development at Stryker Corporation.

Commenting on Arjun’s appointment, Peter Schmid, Head of Private Equity at Actis said, “Arjun joins us with an impressive career spanning a number of countries. With a strong track record of innovative business development across a range of healthcare sub-sectors, including stints in big pharma and consultancy, he will be a great addition to our talented group of private equity healthcare specialists.”

Arjun said: “Healthcare is undergoing a dramatic shift in emerging economies across the globe with rapid infrastructure development coupled with an expanding middle class seeking access to higher quality products and services. Actis has a strong reputation in this sector with historic investments such as Glenmark Pharmaceuticals and a raft of current investment opportunities. I see huge potential for healthcare in the emerging markets and am looking forward to working with my new colleagues to continue the build-out of this sector.”

Ivy Santoso spent over ten years as Indonesian country head for Avenue Capital, a New York based investor. During this time she has built up an extensive track record both in executing transactions and in portfolio management. Ivy began her career as an accountant for Adindo Foresta Indonesia before working in banking and stockbroking.

Commenting on Ivy’s arrival, Actis’s Head of China and South East Asia, Meng Ann Lim said, “With economic growth running around 6%, we are optimistic about the prospects opening up in Indonesia. Ivy brings to Actis her long experience of deal-doing in the region, along with her impressive network of contacts. We are thrilled to have Ivy on board and she will play a key role in building Actis’s success in this region.”

Ivy Santoso said: “Actis is a highly respected firm in South East Asia; it is able to offer a tremendous wealth of knowledge from other emerging markets and draw on a long track record of successful investments. I have great confidence in Indonesia and see exciting opportunities for Actis in this region.”

Notes to Editors

Arjun and Ivy join Actis at Director level and have taken up their posts with immediate effect
In January 2013, Actis’s Head of China and South East Asia, Meng Ann Lim relocated from Beijing to Singapore
Hi-res photographs of Arjun and Ivy are available on request
About Actis
Actis invests exclusively in emerging markets with a growing portfolio of investments in Asia, Africa and Latin America; it currently has US$5.2bn funds under management. Combining the expertise of over 120 investment professionals on the ground in ten countries, Actis identifies investment opportunities in three areas: private equity, energy and real estate. Actis is proud to actively and positively grow the value of those companies in which it invests and in so doing contribute to broader society.

Mooreland Partners served as financial advisor to RESON A/S on its sale to Teledyne Technologies Inc., the advisory firm announced. The deal is expected to close during the first quarter.

PRESS RELEASE
Mooreland Partners is pleased to announce that it acted as the exclusive financial advisor to RESON A/S (“RESON”) on its sale to Teledyne Technologies Inc. (NYSE:TDY) (“Teledyne”). The closing of the transaction, which is subject to customary conditions, is anticipated to occur in the first quarter of 2013.

With over 30 years of experience and approximately 1,400 RESON echosounders sold worldwide, RESON is a leading provider of multibeam sonar systems and specialty acoustic sensors for hydrography, global marine infrastructure and offshore energy operations. RESON’s multibeam sonar systems range from portable high-resolution shallow water systems used on autonomous underwater vehicles (AUVs) to full ocean depth vessel mounted oceanographic systems.

“RESON ideally complements both our marine instrumentation and digital imaging businesses, and will represent our third acquisition in the last twelve months focused on three dimensional imaging,” said Robert Mehrabian, Chairman, President and Chief Executive Officer of Teledyne. “With RESON, Teledyne will possess the ability to provide detailed 3D imaging solutions, ranging from full ocean depth survey, shallow water and coastal zone imaging, terrestrial and airborne mapping, and even deep space science applications.”

RESON has its corporate headquarters in Slangerup, Denmark, with subsidiaries in the United Kingdom, the United States, the Netherlands and Singapore. RESON received funding from, among others, Maj Invest Equity, DKA Capital and Dansk Erhvervsinvestering.

This is Mooreland’s 27th announced transaction since January 2012 and is another example of Mooreland’s presence as a leading M&A advisor in industrial technology and electronics.

ABOUT MOORELAND PARTNERS: Mooreland Partners is the most active international technology-focused M&A advisory firm, serving clients from its offices in New York, Silicon Valley and London. In 2012, Mooreland Partners advised on a total of 26 transactions across all major technology sectors including communications and digital media, enterprise software and services, semiconductors and electronics. Founded in 2002, Mooreland Partners is an integrated global firm, 100% owned by its partners, with a team of over 40 investment banking professionals.

Chicago-based venture firm Lightbank is opening an office in New York, part of a plan to expand the number of investments in companies on the East Coast. Lightbank principal Vicki Levine will head up activities at the firm’s New York office.

PRESS RELEASE
Lightbank, a venture capital firm founded by entrepreneurs Brad Keywell and Eric Lefkofsky, today announced the opening of its second location in the Flatiron District of New York. Lightbank’s New York presence will enable the firm to better serve and grow its portfolio in New York and the East Coast, where it will join a community full of promising tech startups.

“New York is an active and diverse tech hub that has produced many remarkable companies, and we look forward to collaborating with great entrepreneurs as they grow their businesses,” said Brad Keywell, co-founder of Lightbank. “The New York tech community has deep roots in spaces like ecommerce and media that align with our expertise. By being on the ground, we strengthen our ability to help emerging tech startups develop and scale their businesses.”

Lightbank plans to grow the number of investments into companies based in New York and the East Coast region in the coming years, reflective of the increasing amount of venture capital flowing into the region’s startups. The firm will continue to focus on early-stage tech companies, with areas of particular interest including ecommerce, media and health.

Since 2010, Lightbank has invested in more than 50 early-stage tech startups across the country, with nearly 20 percent of its portfolio located on the East Coast, including Frank & Oak, Contently, Centzy, Bevel, Ovuline and OnSwipe. Additionally, Lightbank’s Keywell and Lefkofsky have co-founded New York-based MediaOcean and InnerWorkings, both of which have a strong presence in New York.

Lightbank principal Vicki Levine will head up activities at the firm’s New York office, with active participation from the firm’s partners.

“The New York technology community surrounds its entrepreneurs with resources beyond just capital,” said Keywell. “There is the government’s support, collaboration from large organizations, many world-class conferences and events, hackathons, as well as an increasing number of co-working spaces and accelerators, which all work together to create an ecosystem that we are excited to join.”

About Lightbank:

Lightbank is a Chicago-based fund focused on early-stage technology companies. Founded by Eric Lefkofsky and Brad Keywell, who are founders of Groupon, MediaBank, InnerWorkings (NASDAQ:INWK) and Echo Global Logistics (NASDAQ:ECHO), Lightbank not only makes investments of capital, but also takes an active hands-on role in helping entrepreneurs ensure their early- and mid-stage businesses grow and succeed.

JLL Partners has acquired BioClinica, a provider of clinical trial management, and CoreLab Partners Inc., a provider of medical imaging and cardiac safety services. The firm will pay $7.25 a share for BioClinica, which results in an equity value of approximately $123 million. Specific terms of the CoreLab deal were not released.

PRESS RELEASE
BioClinica(R), Inc. BIOC -0.33% , a leading global provider of clinical trial management solutions, today announced that it has entered into a definitive agreement to be acquired by a holding company controlled by JLL Partners, Inc., a leading private equity firm.

Simultaneously, JLL Partners announced that it has reached a definitive agreement to acquire CoreLab Partners, Inc., a provider of medical imaging solutions and cardiac safety services based in Princeton, N.J.

Following the proposed acquisitions, BioClinica and CoreLab Partners will be merged to create a leading provider of medical imaging services and best-in-class eClinical solutions for clinical trials. Ampersand Capital Partners, which is the majority owner of CoreLab Partners, will also be a significant investor in the combined company.

Mark L. Weinstein, currently President and CEO of BioClinica, will lead the combined company.

Dan Agroskin, Managing Director of JLL Partners said, “We are excited about the tremendous promise of this business combination given the strong fundamentals of each company and the overall industry. We will conservatively capitalize the combined business and look forward to supporting its continued growth.”

Terms of the agreement
Under terms of the BioClinica agreement, the holding company will commence a cash tender offer to purchase all of BioClinica’s common stock at an offer price of $7.25 a share, which results in an equity value of approximately $123 million. Any BioClinica shares not tendered in the offer will be acquired in a second-step merger at the same cash price as paid in the tender offer. The purchase price represents a premium of 23.2% over its average closing price for the 90 days ended January 29, 2013, and 28.7% over the average price for the 52-week period ended January 29, 2013. BioClinica’s Board of Directors has unanimously approved the definitive merger agreement and the transaction contemplated hereby.

The transaction will be financed by an equity commitment from JLL Partners and Ampersand Capital. It is subject to a valid tender of a majority of BioClinica’s common stock, regulatory approvals, and other customary conditions. It is not subject to any financing conditions, nor is it subject to the closing of the CoreLab Partners transaction. The parties expect the tender offer to close before the end of this year’s first quarter.

David E. Nowicki, DMD, Chairman of the Board of Directors of BioClinica and Chairman of its Strategic Committee said, “After careful and thorough analysis, together with our independent advisors, the Strategic Committee of our Board has endorsed this transaction as being in the best interest of the company and our shareholders. We are pleased that the transaction appropriately recognizes the value of BioClinica as one of the leaders in providing clinical trial management solutions to the pharmaceutical and medical device industries, while providing our shareholders with immediate cash liquidity for their investment in BioClinica.”

Mark L. Weinstein added, “We are pleased to announce this transaction and look forward to merging our company with CoreLab Partners and working with JLL Partners and Ampersand Capital to continue to expand our business. The combined platform significantly enhances our global scale, scientific expertise, and our prospects for accelerating the pace of innovation for customers. We are also delighted that this transaction comes at a time when our industry is poised for growth in demand for imaging and eClinical solutions.”

Following completion of its proposed acquisition, BioClinica will become a privately held company and its stock will no longer trade on the NASDAQ stock exchange. The proposed acquisition of CoreLab Partners is contingent on the closing of the BioClinica transaction. Both acquisitions are expected to close concurrently.

Michael Woehler, Ph.D., CEO of CoreLab Partners said, “We’re excited about the prospect of working with BioClinica, which has a great track record and reputation as a leader in this industry. We look forward to contributing our deep scientific expertise, our diverse customer base, and our successful clinical trial experience. Together, we will offer our customers best-in-class solutions at an industry-leading standard of quality and service.”

About BioClinica, Inc.

BioClinica, Inc. is a leading global provider of integrated, technology-enhanced clinical trial management solutions. BioClinica supports pharmaceutical and medical device innovation with imaging core lab, internet image transport, electronic data capture, interactive voice and web response, clinical trial management, and clinical supply chain forecasting and optimization solutions. BioClinica solutions maximize efficiency and manageability throughout all phases of the clinical trial process. With over 20 years of experience and more than 2,000 successful trials to date, BioClinica has supported the clinical development of many new medicines from early phase trials through final approval. The company operates state-of-the-art, regulatory body-compliant imaging core labs on two continents, and supports worldwide eClinical and data management services from offices in the United States, Europe and Asia. For more information, please visit http://www.bioclinica.com

About CoreLab Partners, Inc.

Built on over 15+ years of cumulative clinical research experience, CoreLab Partners offers the worldwide biopharmaceutical industry unparalleled service quality, dedicated global capabilities and advanced technologies, with 100% on-time delivery of all projects. CoreLab Partners also provides clinical trial sponsors with best-in-class centralized cardiac safety and efficacy services, and independent medical image assessment solutions–all designed to facilitate successful new drug development in the pharmaceutical, biotechnology and medical device market sectors. CoreLab Partners’ services include medical image management, interpretation, and response assessment for clinical trials, with a particular focus on the oncology therapeutic area. CoreLab Partners also provides regulatory support and digital image submission, as well as cost-effective cardiac safety assessments for development programs, support for clinical studies, and equipment rental. The company also offers worldwide ambulatory blood pressure monitoring services, digital ECG services, and cardiac safety services. For more information, please visit http://www.corelabpartners.com

About JLL Partners, Inc.

JLL Partners is a leading New York-based private equity investment firm with approximately $4 billion of capital under management. JLL Partner’s investment philosophy is to partner with outstanding management teams and invest with them in companies that they can continue to grow into market leaders. JLL Partners has invested in a variety of industries, with special focus on healthcare services, financial services and business services. For more information, please visit www.jllpartners.com .

About Ampersand Capital Partners

Ampersand Capital Partners, based in Boston, is a leading private equity firm that focuses on middle market growth equity investments in the Healthcare sector. Ampersand Capital Partners leverages its unique blend of private equity and operating experience to build value and drive long-term performance alongside its portfolio company management teams. To learn more about Ampersand Capital Partners, please visit http://www.ampersandcapital.com .

Excel Partners is acting as financial advisor to BioClinica, and Morgan, Lewis & Bockius, LLP is acting as BioClinica’s legal counsel.

Robert W. Baird is acting as CoreLab Partners’ financial advisor and Edwards, Wildman Palmer LLP is acting as legal counsel to CoreLab Partners and Ampersand Capital Partners.

Skadden, Arps, Slate, Meagher & Flom LLP is acting as legal counsel to JLL Partners.

Important information about the tender offer

This announcement and the description contained herein are for informational purposes only and are not an offer to purchase or a solicitation of an offer to sell securities of BioClinica, Inc. The tender offer described herein has not yet been commenced. At the time the tender offer is commenced, affiliates of JLL Partners intend to file a tender offer statement on a Schedule TO containing an offer to purchase, a letter of transmittal and other related documents with the Securities and Exchange Commission. At the time the tender offer is commenced, BioClinica, Inc. intends to file with the Securities and Exchange Commission a solicitation/recommendation statement on Schedule 14D-9 and, if required, will, file a proxy statement or information statement with the Securities and Exchange Commission in connection with the merger, the second step of the transaction, at a later date. Such documents will be mailed to stockholders of record and will also be made available for distribution to beneficial owners of common stock of BioClinica, Inc. The solicitation of offers to buy common stock of BioClinica will only be made pursuant to the offer to purchase, the letter of transmittal and related documents. Stockholders are advised to read the offer to purchase and the letter of transmittal, the solicitation/recommendation statement, the proxy statement, the information statement and all related documents, if and when such documents are filed and become available, as they will contain important information about the tender offer and proposed merger. Stockholders can obtain these documents when they are filed and become available free of charge from the Securities and Exchange Commission’s website at http://www.sec.gov , or from the information agent JLL selects. In addition, copies of the solicitation/recommendation statement, the proxy statement and other filings containing information about BioClinica, Inc., the tender offer and the merger may be obtained, if and when available, without charge, by directing a request to BioClinica, Inc. Attention: Ted Kaminer, Chief Financial Officer, at 826 Newtown-Yardley Rd., Newtown, PA 18940, or on BioClinica’s corporate website at http://www.bioclinica.com .

Forward-looking statements

Certain statements made in this press release are “forward-looking statements” intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. Such forward-looking statements may be identified by, among other things, the use of forward-looking terminology such as “believes”, “expects”, “may”, “should” or “anticipates” or the negative thereof or other variations thereon or comparable terminology, or by discussions of strategy that involve risks and uncertainties. Such forward-looking statements include the decision by BioClinica, Inc. to enter into an agreement to be acquired by the holding company controlled by JLL Partners, the ability of BioClinica, Inc. and the holding company controlled by JLL Partners to complete the transaction contemplated by the definitive agreement, including the parties’ ability to satisfy the conditions set forth in the merger agreement, and the possibility of any termination of the definitive agreement. The forward-looking statements contained in this press release are based on our current expectations, and those made at other times will be based on our expectations when the statements are made. Factors that could cause or contribute to such differences include, but are not limited to, the expected timetable for completing the proposed transaction; the risk and uncertainty in connection with a strategic alternative process; financial results; the demand for our services and technologies; growing recognition for the use of independent medical image review services; trends toward the outsourcing of imaging services in clinical trials; realized return from our marketing efforts; increased use of digital medical images in clinical trials; integration of our acquired companies and businesses; expansion into new business segments; the success of any potential acquisitions and the integration of current acquisitions; and the level of our backlog are examples of such forward-looking statements; the timing of revenues due to the variability in size, scope and duration of projects; estimates made by management with respect to our critical accounting policies; regulatory delays; clinical study results which lead to reductions or cancellations of projects and other factors, including general economic conditions and regulatory developments, not within our control. Further information can be found in the risk factors contained in the Annual Report of BioClinica, Inc. on Form 10-K for the year ended December 31, 2011 and most recent filings. BioClinica, Inc. does not undertake to update the disclosures made herein, and you are urged to read our filings with the Securities and Exchange Commission.

Transgenomic Inc., which is traded on the over-the-counter Bulletin Board, has raised $8.3 million in financing from new and existing investors, including entities associated with Third Security. The money will be used for working capital, the company said.

PRESS RELEASE
Transgenomic, Inc. (OTCBB: TBIO) announced today that it has entered into definitive agreements with a syndicate of institutional and other accredited investors to raise gross proceeds of $8.3 million in a private placement financing. The syndicate was comprised of new and existing investors, including entities associated with Third Security, LLC, a leading life sciences investment firm.

Pursuant to the purchase agreement, Transgenomic has agreed to issue an aggregate of 16,600,000 shares of the Company’s common stock at a price per share of $0.50, as well as 5-year warrants to purchase up to an aggregate of 8,300,000 shares of common stock with an exercise price of $0.75 per share.

Net proceeds from this offering will be used for general corporate and working capital purposes, primarily to accelerate commercialization of several of the Company’s proprietary genetic tests. The closing of the offering is expected to occur on or about January 30, 2013, subject to standard and customary closing conditions.

Lazard Capital Markets LLC served as the lead placement agent for the offering, with Craig-Hallum Capital Group LLC acting as co-placement agent for the offering.

The securities offered in this private placement transaction have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or applicable state securities laws. Accordingly, the securities may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws. Pursuant to the terms of a registration rights agreement entered into with the investors, Transgenomic has agreed to file a registration statement with the Securities and Exchange Commission registering the resale of the shares of common stock sold in the offering and issuable upon exercise of the warrants. Any offering of Transgenomic’s securities under the resale registration statement referred to above will be made only by means of a prospectus.

This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such jurisdiction.

About Transgenomic, Inc.

Transgenomic, Inc. (www.transgenomic.com) is a global biotechnology company advancing personalized medicine in cardiology, oncology, and inherited diseases through its proprietary molecular technologies and world-class clinical and research services. The Company is a global leader in cardiac genetic testing with a family of innovative products, including its C-GAAP test, designed to detect gene mutations which indicate cardiac disorders, or which can lead to serious adverse events. Transgenomic has three complementary business divisions: Transgenomic Clinical Laboratories, which specializes in molecular diagnostics for cardiology, oncology, neurology, and mitochondrial disorders; Transgenomic Pharmacogenomic Services, a contract research laboratory that specializes in supporting all phases of pre-clinical and clinical trials for oncology drugs in development; and Transgenomic Diagnostic Tools, which produces equipment, reagents, and other consumables that empower clinical and research applications in molecular testing and cytogenetics. Transgenomic believes there is significant opportunity for continued growth across all three businesses by leveraging their synergistic capabilities, technologies, and expertise. The Company actively develops and acquires new technology and other intellectual property that strengthens its leadership in personalized medicine.

Forward-Looking Statements

Certain statements in this press release constitute “forward-looking statements” of Transgenomic within the meaning of the Private Securities Litigation Reform Act of 1995, which involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. Forward-looking statements include, but are not limited to, those with respect to the closing of the proposed offering and the expected use of proceeds from the offering. The known risks, uncertainties and other factors affecting these forward-looking statements are described from time to time in Transgenomic’s filings with the Securities and Exchange Commission. Any change in such factors, risks and uncertainties may cause the actual results, events and performance to differ materially from those referred to in such statements. Accordingly, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 with respect to all statements contained in this press release. All information in this press release is as of the date of the release and Transgenomic does not undertake any duty to update this information, including any forward-looking statements, unless required by law.

San Francisco-based Linden Lab, the maker of Second Life, has acquired iPad game Blocksworld. Terms were not released. Blocksworld is a game in which players use cubes, wedges, rockets, wheels, and motors to create 3D models.

PRESS RELEASE
Linden Lab, the makers of Second Life®, Creatorverse TM, Patterns TM, and other shared creative spaces, today announced that it has acquired the iPad game Blocksworld. Linden Lab will offer the game globally and will release it for new platforms, as the Blocksworld team joins the company.

Blocksworld is an iPad game in which players use cubes, wedges, rockets, wheels, motors and more to easily create 3D models of anything they can imagine – from race cars to animals to robots and more. These models come alive with realistic physics simulation, and users can play, interact with, or even explode their creations. As with Linden Lab’s Creatorverse, Blocksworld allows users to share their creations with others to explore, play with, and remix to make them their own.

“Blocksworld is a great fit with what we do at Linden Lab,” said Rod Humble, CEO of Linden Lab. “It’s a very user-friendly complement to our portfolio of shared creative spaces. We’re happy to have the Blocksworld team join Linden Lab and are looking forward to bringing Blocksworld to the App Store worldwide soon!”

iPad is a trademark of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc.

About Linden Lab

Founded in 1999 and headquartered in San Francisco, Linden Lab makes shared creative spaces that inspire and empower users to explore and share their creativity with others.

In 2003, the company released Second Life, the pioneering virtual world filled by the unique creations of its users, who can build anything they can imagine, socialize with others from around the world, and share or sell their creations in a thriving real-money marketplace.

Linden Lab has now expanded its portfolio to include new digital entertainment products, including Patterns, a new 3D universe for users to shape, and Creatorverse, a tablet and mobile game that allows users to set their creativity in motion.

Front Flip, a Leawood, Kansas-based loyalty marketing company, has raised $3.75 million in Series B financing. The new round brings Front Flip’s fundraising total to $7.7 million. Front Flip’s Series B funding was led by Jon Darbyshire, executive chairman of the Archer Foundation.

PRESS RELEASE
Loyalty marketing company Front Flip (www.frontflip.com) today announced it has raised $3.75 million in Series B funding. The new round brings Front Flip’s fundraising total to $7.7 million.

Front Flip delivers a fun and exciting loyalty program that helps businesses create profitable, long-term relationships with their customers. Restaurants and retailers use Front Flip to increase visit frequency, boost sales and generate social buzz.

The company’s client portfolio includes franchise groups from major concepts like Kentucky Fried Chicken, McDonald’s, Wendy’s and Famous Dave’s.

McDonald’s Franchise Co-Owner Todd Luther has seen sales at his eight Fort Collins, Colo. locations increase by as much as 1.5% since adopting Front Flip. “We’re engaging our customers more than ever, and they enjoy and appreciate it. The extra smiles and sales prove it,” said Luther.

Using the free Front Flip mobile app, customers scan a unique QR code every time they visit a participating business to unlock a digital scratch card. Every scan is a chance to win an instant promotion. Customers can also receive gifts and rewards in the mobile app and share them with friends.

Front Flip’s Series B funding was led by Jon Darbyshire, executive chairman of the Archer Foundation. Darbyshire previously founded Archer Technologies, which sold to EMC in 2010.

“We believe Front Flip has the potential to fundamentally change the way major brands build and maintain loyal relationships with their customers,” said Darbyshire.

Some of Kansas City’s most prominent and successful entrepreneurs also contributed to Front Flip’s second round of funding. They include:

Peter Brown, the former chairman, CEO and president of AMC Entertainment Inc.
Gary Fish, founder, president and CEO of FishNet Security, the largest, independently owned information security solutions provider in the U.S. with revenues of more than $400 million.
Lance Melber, who founded and sold eSmartloan.com to Capital One for $155 million
The Brandmeyer family, which founded and sold Enturia to Cardinal Health Inc. for $490 million

“We continue to add locations for national concepts, regional chains and local businesses to our loyalty program. With this new round of funding, we can provide additional resources to our clients and continue to roll out our go-to-market strategy nationwide,” said Front Flip CEO and Founder Sean Beckner.

Beckner says the additional funds will also support staff expansion and ongoing feature enhancements to the Front Flip Loyalty Marketing solution.

About Front Flip
Front Flip is the next generation of loyalty marketing. We’re not another punch card on a mobile app. Instead, we help businesses create profitable, long-term relationships with their customers through fun experiences, instant promotions, rich customer analytics and targeted mobile campaigns. Front Flip works with local shops, regional chains and national concepts to help them achieve significant jumps in traffic and sales in the first 90 days. For more information, visit frontflip.com or call 855.730.1830.

Privately held data center and cloud computing company ViaWest has named Bob Newman as the company’s chief operating officer. Newman joined ViaWest in 2010 as senior vice president of service delivery.

PRESS RELEASE
ViaWest, one of the largest privately held data center, cloud computing and managed service providers in North America, announces that Bob Newman has been appointed as the company’s Chief Operating Officer. Newman will be responsible for ViaWest’s operations, including data center management, service delivery, service support, information technology, engineering, security, compliance and customer relations.

“ViaWest’s commitment to technical and service excellence starts with its people and it’s an honor to lead our Service Management and Support department,” states Newman. “This group goes above and beyond for our customers on a day-to-day basis. 2012 was a standout year for the company, with growth across each of our regions and significant additions to our product portfolio. Building on ViaWest’s strong foundation, 2013 will be a year of continued momentum and growth.”

“We are excited to elevate Bob to Chief Operating Officer,” says Nancy Phillips, President and CEO of ViaWest. “His extensive experience and expertise will be critical as he spearheads ViaWest’s operations and its customer-centric focus on service excellence.”

Newman joined ViaWest in 2010 as Senior Vice President of Service Delivery. His previous information technology management experience includes leadership roles at the LDS Church in Salt Lake City and with Infocrossing, a selective IT outsourcing company, where he succeeded in earning positive customer satisfaction ratings while achieving revenue growth and margin improvement.

For additional information on Bob Newman and other ViaWest executives, please visit http://www.viawest.com/about-viawest/our-people/management.

For more information on ViaWest’s highly redundant data centers and secure infrastructure services, please visit www.viawest.com.

About ViaWest
ViaWest is one of the largest privately held data center service providers in North America, providing colocation, complex hosting, cloud, and managed services to businesses of all sizes nationwide. ViaWest owns and operates 24 enterprise-class data center facilities in Colorado, Texas, Oregon, Utah, and Nevada, delivering high-quality, flexible solutions designed to support customers’ unique business needs. For additional information on ViaWest, please visit www.viawest.com or call 1-877-448-9378. Follow ViaWest on LinkedIn, Twitter or visit their YouTube channel.

Clearview Capital has exited its investment in Hillsdale Furniture, selling the company to an investor group led by Brookside Equity Partners and management. Louisville, Kentucky-based Hillsdale is a designer, importer and marketer of residential furniture. Clearview’s investment in Hillsdale was made through a 2002 vintage fund. Terms were not released.

PRESS RELEASE
Clearview Capital, LLC of Old Greenwich, CT has successfully exited its investment in Hillsdale Furniture, LLC (“Hillsdale”), with the sale of the company to an investor group led by Brookside Equity Partners and management.
Based in Louisville, KY, Hillsdale is a designer, importer and marketer of residential furniture.
“Despite an extraordinarily difficult environment for furniture companies that resulted in wrenching change throughout the industry, Hillsdale’s terrific management team achieved market share gains and consistent profitability during the course of our investment”, said Calvin Neider, Co-Managing Partner of Clearview Capital. “We part with Hillsdale knowing the company will continue to thrive with its new equity partners.”
Clearview’s investment in Hillsdale was made through a 2002 vintage fund which is nearly fully realized. Clearview is now investing through Clearview Capital Fund II,

LP which seeks to acquire and develop lower middle market companies in sectors including business services, health care services, design/importing, distribution and manufacturing.
Green, Holcomb & Fisher served as financial advisor and Loeb & Loeb, LLP served as legal advisor to Hillsdale.
Clearview’s other holdings include Battenfeld Technologies, Inc., a leading designer, developer and supplier of branded shooting and hunting accessories to the outdoor sporting goods industry; GCR, Inc., a professional services firm delivering consulting services and technology solutions to governmental and commercial clients; Child Health Holdings, Inc., d.b.a. Pediatric Healthchoice, the country’s largest operator of prescribed pediatric extended care centers; Pyramid Healthcare, Inc., a provider of in- patient and out-patient behavioral health services; The Results Companies, LLC, a provider of outsourced customer management solutions; QualSpec Group (f.k.a. All Tech IESCO), a provider of inspection and non-destructive testing services to the refining, petrochemical market and other industrial process industries; Rowmark, LLC, a manufacturer and marketer of specialty plastic sheet and related products for the awards/recognition, engraving and signage markets; Senior Care Centers of America, Inc., the country’s largest operator of adult day care centers; and a minority interest in Compression Polymers Group, the leading extruder of thick gauge polyolefin and PVC sheet, including AZEK® brand trim boards.