<SEC-DOCUMENT>0001144204-15-054123.txt : 20150909
<SEC-HEADER>0001144204-15-054123.hdr.sgml : 20150909
<ACCEPTANCE-DATETIME>20150909073023
ACCESSION NUMBER:		0001144204-15-054123
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20150904
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Completion of Acquisition or Disposition of Assets
ITEM INFORMATION:		Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20150909
DATE AS OF CHANGE:		20150909

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TRANSGENOMIC INC
		CENTRAL INDEX KEY:			0001043961
		STANDARD INDUSTRIAL CLASSIFICATION:	LABORATORY ANALYTICAL INSTRUMENTS [3826]
		IRS NUMBER:				911789357
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36439
		FILM NUMBER:		151097926

	BUSINESS ADDRESS:	
		STREET 1:		12325 EMMET ST
		CITY:			OMAHA
		STATE:			NE
		ZIP:			68164
		BUSINESS PHONE:		4027385480

	MAIL ADDRESS:	
		STREET 1:		12325 EMMET STREET
		CITY:			OMAHA
		STATE:			NE
		ZIP:			68164
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>v419975_8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML>
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     <TITLE></TITLE>
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<P STYLE="margin: 0"></P>

<P STYLE="font-family: Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Washington, DC 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CURRENT REPORT </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PURSUANT TO SECTION 13 OR 15(d) OF THE
</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES EXCHANGE ACT OF 1934 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of Report (Date of earliest event reported):
September 4, 2015</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 24pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Transgenomic, Inc. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact Name of Registrant as Specified in
Charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: top; text-align: center; width: 33%"><FONT STYLE="font-size: 10pt"><B>Delaware </B></FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center; width: 34%"><FONT STYLE="font-size: 10pt"><B>000-30975</B></FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center; width: 33%"><FONT STYLE="font-size: 10pt"><B>91-1789357</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(State or Other Jurisdiction of</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Incorporation)&nbsp;</P></TD>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Commission</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">File Number)&nbsp;</P></TD>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(IRS Employer</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Identification No.)&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>12325 Emmet Street, Omaha, NE 68164</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Address of Principal Executive Offices)
(Zip Code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Registrant&rsquo;s telephone number, including
area code: <B>(402) 452-5400</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>N/A </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Former Name, or Former Address, if Changed
Since Last Report)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD><TD STYLE="text-align: justify">Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425)</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD><TD STYLE="text-align: justify">Soliciting material pursuant to Rule 14a-12 under the
Exchange Act (17 CFR 240.14a-12)</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD><TD STYLE="text-align: justify">Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b))</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD><TD STYLE="text-align: justify">Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act (17 CFR 240.13e-4(c))</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item 1.01. Entry into a Material Definitive
Agreement. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Sale of Columns Business</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">On September
8, 2015, Transgenomic, Inc. (the &ldquo;Company&rdquo;) entered into an Asset Purchase Agreement (the &ldquo;Asset Purchase Agreement&rdquo;)
with Edge BioSystems, Inc. (&ldquo;Buyer&rdquo;), pursuant to which the Company agreed to sell to Buyer, and Buyer agreed to purchase
from the Company, the Company&rsquo;s manufacturing, marketing and selling high quality polymer and silica based beads and resin
and chromatography columns business</FONT> <FONT STYLE="font-size: 10pt">(collectively, the &ldquo;Business&rdquo;). </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to the Asset Purchase Agreement,
Buyer acquired substantially all of the assets used solely in connection with the Business and assumed certain liabilities
of the Business for a total cash purchase price of approximately $2.1 million (the &ldquo;Asset Sale&rdquo;), which was paid
on September <FONT STYLE="font-family: Symbol">8</FONT>, 2015 upon the closing of the Asset Sale.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Asset Purchase Agreement contains standard
and customary representations, warranties and covenants. Subject to certain exceptions, the Company and Buyer each agreed to indemnify
the other party for, among other things, breaches of, or defaults under, the Company&rsquo;s or Buyer&rsquo;s representations,
warranties, covenants or agreements contained in the Asset Purchase Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Asset Purchase Agreement contains representations
and warranties that the parties to the Asset Purchase Agreement made to and solely for the benefit of each other. Moreover, information
concerning the subject matter of such representations and warranties may change after the date of the Asset Purchase Agreement,
which subsequent information may or may not be reflected in the Company&rsquo;s public disclosures.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In connection with the Asset Purchase Agreement,
the Company and Buyer entered into certain other agreements, including a transition services agreement pursuant to which the Company
will provide Buyer with certain transition services for a limited time period following the closing of the Asset Sale, and
a manufacturing services agreement pursuant to which Buyer will supply the Company with certain products after the closing of the
Asset Sale.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">There is no material relationship between
the Company or any of its affiliates, on the one hand, and Buyer or any of its affiliates, on the other hand, outside of the Asset
Purchase Agreement and agreements entered into connection therewith.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The foregoing description of the Asset
Purchase Agreement does not purport to be a complete description of all terms of the Asset Purchase Agreement and is qualified
in its entirety by reference to the full text of the Asset Purchase Agreement, which the Company anticipates will be filed as an
exhibit to the Company&rsquo;s Quarterly Report on Form 10-Q for the quarter ending September 30, 2015.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Amendment to Loan Agreement</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On September 4, 2015, in anticipation of
the closing of the Asset Sale, the Company entered into an amendment (the &ldquo;Amendment&rdquo;) to its Loan and Security Agreement,
dated March 13, 2013, with Third Security Senior Staff 2008 LLC, as administrative agent and a lender, and the other lenders party
thereto (collectively, the &ldquo;Lenders&rdquo;) for a revolving line of credit and a term loan (the &ldquo;Loan Agreement&rdquo;).
The Amendment, among other things, (i) provides that the Lenders will waive specified events of default under the terms of the
Loan Agreement, (ii) reduces the Company&rsquo;s future minimum revenue covenants under the Loan Agreement, (iii) reduces the Company&rsquo;s
borrowing availability under the revolving line of credit to approximately $2.3 million, and (iv) limits the Company&rsquo;s borrowing
base under the Loan Agreement to the amount of the revolving line of credit.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Lenders are affiliates of Third Security,
LLC and hold more than 10% of the outstanding voting stock of the Company. Additionally, Doit L. Koppler II, a director of the
Company, is an employee of Third Security, LLC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The foregoing description of the
Amendment does not purport to be a complete description of all terms of the Amendment and is qualified in its entirety by
reference to the full text of the Amendment, which the Company anticipates will be filed as an exhibit to the Company&rsquo;s
Quarterly Report on Form 10-Q for the quarter ending September 30, 2015.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item 2.01. Completion of Acquisition
or Disposition of Assets.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The information set forth under the heading
&ldquo;Sale of Columns Business&rdquo; in Item 1.01 above is hereby incorporated by reference into this Item 2.01.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item 2.03. Creation of a Direct Financial
Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The information set forth under the heading
&ldquo;Amendment to Loan Agreement&rdquo; in Item 1.01 above is hereby incorporated by reference into this Item 2.03.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item 8.01. Other Events.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On September 9, 2015, the Company issued
the press release attached hereto as Exhibit 99.1 announcing the completion of the Asset Sale.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 9.01. Financial Statements and Exhibits.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 0.25in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>(d)</B></FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><I>&nbsp;Exhibits.</I></B></FONT></TD>
    </TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: top; width: 0.25in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; width: 1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Exhibit Number</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 0.25in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Description</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 0.25in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">99.1</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Press release issued by Transgenomic, Inc., dated September 9, 2015.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 229.5pt"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Transgenomic, Inc. </B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="text-align: center; width: 49%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD NOWRAP><FONT STYLE="font: 10pt Times New Roman, Times, Serif">By:</FONT>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">/s/ Paul Kinnon</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Paul Kinnon</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">President and Chief Executive Officer</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Date: September 9, 2015</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>Exhibit Index</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: top; width: 0.25in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; width: 1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Exhibit Number</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 0.25in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Description</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
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<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 0.25in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">99.1</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Press release issued by Transgenomic, Inc., dated September 9, 2015.</FONT></TD></TR>
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<DESCRIPTION>EXHIBIT 99.1
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 99.1&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>TRANSGENOMIC SELLS ION CHROMATOGRAPHY
PRODUCT LINE AND ASSETS TO EDGE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>BIOSYSTEMS, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&mdash;$2.1 Million Sale Continues Transgenomic&rsquo;s
Strategy of Selectively Monetizing Legacy Assets and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Generating Non-Dilutive Cash to Allow Focus
on Products for High Growth Molecular Diagnostics</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">and Personalized Medicine Sectors&mdash;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>OMAHA, Neb. (September 9, 2015) &mdash; </B>Transgenomic, Inc.
(NASDAQ: TBIO) today announced that it has sold its ion chromatography (IC) product line and related assets to Edge BioSystems,
Inc. (EdgeBio), a portfolio company of the investment firm StoneCalibre. EdgeBio is a specialized manufacturer and distributor
of DNA sequencing sample preparation and clean-up products.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Under the terms of the agreement, Transgenomic transferred rights
to its ion chromatography products, licenses, technology, know-how and trademarks to EdgeBio, along with product inventory, for
approximately $2.1 million in cash. Further terms of the agreement were not disclosed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Ion chromatography is a chemical analysis technique that separates
and analyzes different substances according to their affinities for chemically stable, highly reactive synthetic ion exchangers.
The IC product line includes a wide range of specialty ion chromatography columns that are designed to run on a variety of chromatograph
systems.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Paul Kinnon, President and Chief Executive Officer of Transgenomic,
commented, &ldquo;An important part of our revitalization strategy is to selectively monetize non-core legacy businesses and product
lines so that we can focus our resources on commercialization of Multiplexed ICE COLD-PCR<SUP>TM</SUP> (MX-ICP) for high value,
high growth clinical applications, such as liquid biopsies for targeted cancer therapy and patient monitoring. This asset monetization
strategy frees up cash to help advance our commercialization efforts for MX-ICP. Transgenomic will continue to pursue opportunities
to optimize our asset deployment and product mix, and we expect to complete additional asset monetizations in the coming months.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>About Edge BioSystems</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Established in 1990, Edge Biosystems is
headquartered in Gaithersburg, Maryland. EdgeBio&rsquo;s consumable products are critical components in the DNA sequencing process,
allowing researchers to determine the exact genetic make-up of DNA for use in clinical and diagnostic labs, food testing, microbial
identification, forensic identification, molecular medicine, ancestry studies and other applications. EdgeBio has built a solid
reputation as a sequencing purification supplier of choice stemming from its consistent, high-quality product performance backed
by its proprietary formulations. EdgeBio was acquired by StoneCalibre in 2014. For more information, visit <U>www.edgebio.com</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>About StoneCalibre</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Headquartered in Century City, CA, StoneCalibre
is a privately funded investment firm specializing in the acquisition of lower middle market companies. Founded by Brian Wall
in 2012, StoneCalibre is focused on making investments in both special situations and quality long-term capital investment opportunities.
For more information please visit our website at <U>www.stonecalibre.com</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>About Transgenomic</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Transgenomic, Inc. is a global biotechnology
company advancing personalized medicine in cardiology, oncology, and inherited diseases through advanced diagnostic technologies,
such as its revolutionary ICE COLD-PCR&trade; and its unique genetic tests provided through its Patient Testing business. The company
also provides specialized clinical and research services to biopharmaceutical companies developing targeted therapies and sells
equipment, reagents and other consumables for applications in molecular testing and cytogenetics. Transgenomic&rsquo;s diagnostic
technologies are designed to improve medical diagnoses and patient outcomes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Forward-Looking Statements</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Certain
statements in this press release constitute &ldquo;forward-looking statements&rdquo; of Transgenomic within the meaning of the
Private Securities Litigation Reform Act of 1995, which involve known and unknown</I></FONT><I> <FONT STYLE="font: italic 10pt Times New Roman, Times, Serif">risks,
uncertainties and other factors that may cause actual results to be materially different from any future results, performance
or achievements expressed or implied by such statements. These forward-looking statements include statements relating to Transgenomic&rsquo;s
revitalization and asset monetization strategy, the potential applications for Multiplexed ICE COLD-PCR<SUP>TM</SUP>, the availability
of cash for commercialization efforts and the expected timing for its asset monetization strategy. The known risks, uncertainties
and other factors affecting these forward-looking statements are described from time to time in Transgenomic's filings with the
Securities and Exchange Commission. Any change in such factors, risks and uncertainties may cause the actual results, events and
performance to differ materially from those referred to in such statements. 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 statements contained in this press release. All information in this press release is as of the date of the release and
Transgenomic does not undertake any duty to update this information, including any forward-looking statements, unless required
by law.</FONT></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
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    <TD STYLE="width: 50%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><B>Contacts:</B></FONT></TD>
    <TD STYLE="width: 50%"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><B><I>Media:</I></B></FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><B><I>Investors:</I></B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: Black">BLL Partners LLC </FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: Black">Transgenomic Investor Relations</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: Black">Barbara Lindheim </FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: Black">402 452-5400</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: Black">212-584-2276 </FONT></TD>
    <TD STYLE="text-decoration: underline"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><U>investor.relations@transgenomic.com</U></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-decoration: underline"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><U>blindheim@bllbiopartners.com
    </U></FONT></TD>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
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