Skip to main content
Premium Trial:

Request an Annual Quote

Molecular Devices Acquires Cytion for $7.5M Plus Stock

NEW YORK, July 10 – Molecular Devices has signed a definitive agreement to acquire Cytion, a Swiss developer of drug screening technology, for $7.5 million in cash and 400,000 shares of Molecular Devices stock, Molecular Devices said Tuesday.

Cytion, based in Epalinges, Switzerland, has developed a technique using automated patch clamping for analyzing ion channels, a class of proteins important as drug targets.

In addition to the upfront cash and stock payments, Molecular Devices will also make cash payments to Cytion shareholders if the company achieves certain undisclosed milestones.

Molecular Devices, a maker of systems designed to automate drug discovery tasks, said that next year the company hopes to launch its own products for performing electrophysiological research, including the study of ion channels.

"We believe that technologies for higher throughput, information-rich ion channel testing represent an important scientific innovation and a substantial market opportunity, said Joseph Keegan, CEO of Molecular Devices, in a statement. “We are very excited about the agreement to acquire Cytion, a leading developer of automated patch clamping technology that is well-positioned to address this unmet customer need.”

In April, shares of Molecular Devices plunged 58 percent after the company announced disappointing earnings.

The Scan

Unique Germline Variants Found Among Black Prostate Cancer Patients

Through an exome sequencing study appearing in JCO Precision Oncology, researchers have found unique pathogenic or likely pathogenic variants within a cohort of Black prostate cancer patients.

Analysis of Endogenous Parvoviral Elements Found Within Animal Genomes

Researchers at PLOS Biology have examined the coevolution of endogenous parvoviral elements and animal genomes to gain insight into using the viruses as gene therapy vectors.

Saliva Testing Can Reveal Mosaic CNVs Important in Intellectual Disability

An Australian team has compared the yield of chromosomal microarray testing of both blood and saliva samples for syndromic intellectual disability in the European Journal of Human Genetics.

Octopus Brain Complexity Linked to MicroRNA Expansions

Investigators saw microRNA gene expansions coinciding with complex brains when they analyzed certain cephalopod transcriptomes, as they report in Science Advances.