Transgenomic secures forbearance agreement for notes held by Dogwood

Investor agrees to forbear from exercising rights for missed payment

By Devika Patel

Knoxville, Tenn., Feb. 8 - Transgenomic, Inc. negotiated a forbearance agreement with Dogwood Pharmaceuticals, Inc. on Feb. 7, according to an 8-K filed Friday with the Securities and Exchange Commission. The agreement has an effective date of Dec. 31, 2012.

Under the agreement, the investor has agreed to forbear from exercising its rights in regards to a $1.39 million payment that was due on the notes held by Dogwood on Dec. 31.

Based in Omaha, Transgenomic's three business divisions support clinical trials for the development of oncology drugs, develop molecular diagnostics for oncology and various medical disorders and provide equipment and reagents for clinical research.

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