Third Security, Transgenomic enter Convertible Promissory Note Purchase Agreement

Transgenomic, Inc. (OTCBB: TBIO) today announced that it has entered into a Convertible Promissory Note Purchase Agreement (the "Purchase Agreement") in the aggregate amount of $3.0 million with entities (the "Investors") associated with Third Security, LLC, a leading life sciences investment firm.

"We are very pleased with the additional investment by Third Security affiliates as it increases our working capital and allows us to continue our expansion plan," said Craig Tuttle, President and Chief Executive Officer of the Company.

Source: Transgenomic