Skip to main content
Premium Trial:

Request an Annual Quote

Molecular Devices to Buy Axon Instruments for $140M in Cash and Stock

NEW YORK, March 22 (GenomeWeb News) - Molecular Devices plans to acquire Axon Instruments for a total of $140 million in cash and stock, the company said yesterday.

 

Molecular Devices, based in Sunnyvale, Calif., hopes the acquisition will create synergies for product development and will help distribute Axon's products more effectively.

 

Molecular Devices will pay approximately $70 million in cash and $70 million of its common stock for Axon, including Axon's $29 million in cash and marketable securities. Under the agreement, each Axon share of common stock would be converted into approximately $.14 in cash and 0.007 of a Molecular Devices share.

 

Axon, which makes instruments for electrophysiology as well as microarray scanners, is based in Union City, Calif. and has 128 employees. The acquisition is subject to a number of conditions, including shareholder approval from both companies, and is expected to close by the end of June.

The Scan

US Booster Eligibility Decision

The US CDC director recommends that people at high risk of developing COVID-19 due to their jobs also be eligible for COVID-19 boosters, in addition to those 65 years old and older or with underlying medical conditions.

Arizona Bill Before Judge

The Arizona Daily Star reports that a judge weighing whether a new Arizona law restricting abortion due to genetic conditions is a ban or a restriction.

Additional Genes

Wales is rolling out new genetic testing service for cancer patients, according to BBC News.

Science Papers Examine State of Human Genomic Research, Single-Cell Protein Quantification

In Science this week: a number of editorials and policy reports discuss advances in human genomic research, and more.