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Friday July 21, 2000 COMPANY PRESS RELEASE Transgenomic, Inc. Announces the Exercise of IPO Over-allotment Transgenomic, Inc. (Nasdaq:TBIO) today announced that Chase H&Q has exercised in full the over-allotment option of 762,000 shares of common stock in connection with Transgenomic's initial public offering. These additional shares of common stock have been issued at the offering price of $15 per share. After the exercise of the over-allotment option, there will be 18,477,000 shares of common stock outstanding. On July 17, 2000 Transgenomic priced its initial public offering of 4,480,000 shares of its common stock at $15 per share. Transgenomic provides innovative research tools to the genomics segment of the life sciences industry. These tools enable researchers to discover and understand variation in the human genetic code, or genome, in order to accelerate and improve drug development and diagnostics. We believe our WAVE System will become a leading tool to analyze genetic mutations. The WAVE System allows researchers to analyze both known and unknown genetic mutations faster, with more accuracy and at a lower cost than other commercially available techniques. This press release may contain forward-looking statements. Such statements are subject to certain factors, risks and uncertainties that may cause actual results, events and performance to differ materially from those referred to in such statements. These risks are identified in Transgenomic's registration statement on Form S-1 (Registration No. 333-32174) filed with the Securities and Exchange Commission. 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 such forward looking statements. For more information contact: |