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Affymetrix Touts Expanded Product Lineup as it Wraps up ParAllele Acquisition

Oct 24, 2005

NEW YORK, Oct. 24 (GenomeWeb News) - As GenomeWeb News reported earlier today, Affymetrix confirmed today that it has closed the acquisition of privately held ParAllele BioScience in a stock-and-cash transaction worth around $121 million.

 

Affymetrix said in a statement that ParAllele stockholders approved the acquisition on Oct. 20, and that it was completed on Oct. 21.

 

ParAllele stockholders will receive around $120.8 million in the form of $11.7 million in cash and around 2.29 million shares of Affymetrix common stock.

 

Stephen Fodor, founder and CEO of Affymetrix, said in a conference call following the company's third-quarter earnings last Thursday that he expects "a quick and successful integration of companies" in the wake of the acquisition.

 

Affymetrix "will launch a series of innovative new products, including a product covering 20K coding DNA SNPs, several disease-specific SNP panels including inflammation and cancer, and an expanding range of custom SNP panels spanning 1,500 to 20,000 SNPs," Fodor said.

 

Affymetrix said in a statement that it will add 1,500 new SNP custom assays and 20,000 non-synonymous coding SNP assays to its product portfolio as a result of the acquisition.

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