CASTLE ROCK, Colo. — Venaxis®, Inc. (Nasdaq: APPY), announced today that Venaxis, Strand Life Sciences Private Limited (Strand LS) and its U.S. subsidiary Strand Genomics Inc. (SGI), have agreed to terminate the previously announced transactions between the companies. On March 11, 2016, Venaxis, Strand LS and SGI entered into a Mutual Termination Agreement to terminate in full the Master Agreement between them. The termination of the Master Agreement automatically caused a termination of the Asset Purchase Agreement between Venaxis and SGI, and each of the Share Sale Agreements and Investment Agreements between Venaxis and the Strand LS shareholders.

Steve Lundy, Chief Executive Officer of Venaxis, Inc. noted “Venaxis, Strand LS and SGI determined that the transactions contemplated by the Master Agreement and other transaction agreements were not able to be completed timely, despite the parties’ respective best efforts, and the continued uncertainty was negatively impacting the efforts of the parties to advance their respective business plans.” Mr. Lundy continued “Venaxis is evaluating the alternatives available to it in light of the termination of the Master Agreement and other transaction agreements, and expects to provide an update to its investors as soon as possible.”