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Affymetrix Closes $73M Buy of Panomics

NEW YORK (GenomeWeb News) – Affymetrix said today that it has closed its purchase of the genetic and cellular analysis company Panomics for $73 million in cash.
The company said today that the addition of Panomics will enable “a more complete customer workflow, beginning with whole-genome Affymetrix microarray studies and then focusing on genes and proteins of interest with the Panomics products.” 
Affy, which announced its plan to buy the company in November, said that it will discuss the impact of the acquisition during its fourth-quarter conference call on Jan. 29, 2009.
Panomics, a privately held company based in Fremont, Calif., offers reagents and products for use in research initiatives including intracellular pathway analysis, cell signaling, and gene expression profiling. Panomics’ assays do not require nucleic acid extraction or amplification, which streamlines gene expression, copy number, and cytogenetics applications, Affy said.
At the time the deal was announced, Affy President Kevin King said that it would allow his company “to enter new high-growth market segments, enhance our recently acquired liquid array platform, and create further operating leverage.”

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