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In Brief This Week: 10x Genomics, Danaher, Paragon Genomics, and More

NEW YORK – 10x Genomics this week closed its initial public offering, with aggregate gross proceeds of $448.5 million, before discounts, commissions, and expenses. The single-cell analysis firm sold 11.5 million shares of its Class A common stock at an offering price of $39.00 per share. The underwriters fully exercised their option to purchase 1.5 million additional shares.

JP Morgan, Goldman Sachs, and Bank of America Merrill Lynch acted as lead joint book-running managers. Cowen acted as lead manager.

Danaher said this week it has issued €1.25 billion of 0.2 percent senior notes due in 2026; €1.25 billion of 0.45 percent senior notes due in 2028; €1.75 billion of 0.75 percent senior notes due in 2031; €1.25 billion of 1.35 percent senior notes due in 2039; and €750 million of 1.8 percent senior notes due in 2049. Earlier this month, the company said it planned to use the money to fund part of the cash consideration and other costs associated with its $21.4 billion acquisition of GE Life Sciences' Biopharma business.

Paragon Genomics said this week that it has established a subsidiary in China to market its CleanPlex products. The new sales and marketing subsidiary will be based in the Suzhou Biobay Industrial Park outside of Shanghai and will provide customer and technical support to customers throughout China.

CleanPlex is a multiplexed target enrichment technology for next-generation sequencing. Paragon launched a line of CleanPlex products optimized for use with MGI's sequencers and announced a distribution deal earlier this year. Products are also available for use with the Illumina and ThermoFisher Scientific IonTorrent platforms.

OpGen said this week that it has regained compliance with the Nasdaq listing requirement for a minimum $1 closing bid price. The firm had been warned in May that its stock's closing bid price had fallen short of the $1 figure for 30 consecutive business days. As a result, its shares were in danger of being delisted from the Nasdaq Capital Market. In late August, the firm said that it would undertake a 20-for-1 reverse stock split in order to boost its share value. On Sept. 13, OpGen's stock price closed at or above the $1 mark for the 10th consecutive day, making the firm in compliance with the listing rule. OpGen said it has received correspondence from Nasdaq confirming the compliance. However, it remains non-compliant with another listing rule requiring a minimum shareholder equity of $2.5 million. OpGen and Curetis are in the process of combining their businesses.

Agilent Technologies announced this week that it will pay a quarterly dividend of 16.4 cents per share of common stock on Oct 23, to all shareholders of record as of Oct. 1.

Sysmex America said this week that it has joined the Clinical Lab 2.0 movement to support collaboration around value-based healthcare. Clinical Lab 2.0 is a Project Santa Fe Foundation initiative established to help develop the evidence base for the valuation of clinical laboratory services. Sysmex America said it is the first corporate sponsor in this partnership, and that it is providing a grant focused on a multi-institutional demonstration project developing actionable clinical strategies for anemia early detection, intervention, and prevention as part of the initiative.

In Brief This Week is a selection of news items that may be of interest to our readers but had not previously appeared on GenomeWeb.