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Sciessent
Acquires Agion Technologies, Raising $3M
CityBiz List
In connection with its acquisition of Agion Technologies, Sciessent LLC has completed a $3 million offering of mixed securities for Sciessent LLC, attracting nine investors, according to an SEC filing.
Sciessent is acquiring all of Agion's intellectual property assets along with its international patents and pending patent applications across various channels, including textiles, medical, and industrial applications. Sciessent has also acquired Agion's proprietary technology regarding anti-odor agents, their evaluation and their application and implementation.
Agion executives named in the filing include president and CEO Paul Ford, executive vice president Joseph Geary, and CTO Jeffrey Trogolo.
Citybizlist received confirmation that the management will remain the same under Sciessent's ownership.
Ford has been with Agion since 2000 and was appointed CEO in September 2008. A professional chemical engineer and attorney, he previously held positions with the UpJohn Company and United Technologies' Corporate Environmental Group where he worked with the EPA. Ford serves as Chair of the EU Silver Task Force and Co-Chair of the US Silver Task Force.
Agion Technologies, located in Wakefield, Mass., provides customized solutions that enhance the value of partners' products. Agion's technologies are based on silver and other naturally occurring elements and have been incorporated into a wide range of consumer, industrial and healthcare products including cell phones, shoes, keyboards, water filters, medical catheters and ice machines.
The company recently announced a continuation of its Stink at Nothing campaign, which has attracted more than 400,000 website visitors and for which more than 90,000 consumers from 150 countries have signed up to participate. After passing a screening process, consumers pull on a T-shirt treated with Agion Active technology, exercise, and then answer: "Did you stink?
Agion's investors include Paladin Capital Group, BASF, Motorola, Emerald Technology Ventures, and H.B. Fuller Ventures.
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