Millipore to Sell $550M in New Notes to Help Fund Serologicals Acquisition
Millipore said this week that it plans to raise $550 million in convertible senior notes to finance its acquisition of Serologicals.
The notes, due 2026, will be offered to institutional buyers.
Millipore said in April that it would acquire Serologicals for $1.4 billion in cash. Millipore said it will use a portion of its latest fundraising round to pay for a portion of the acquisition.
Initial purchasers will receive a 13-day option to buy up to an additional $82.5 million of the convertible notes. Holders would receive a cash payment up to the principal amount of the note and Millipore common stock equivalent to the note's conversion value in excess of the principal amount for each note.
Any remaining funds will be added to the company's working capital and will be used for general corporate purposes, the company said.
CST, Bio-Rad to Develop Phosphoprotein Assays for Signal Transduction Research
Cell Signaling Technology said this week that it has partnered with Bio-Rad Laboratories to develop phosphoprotein assays to be commercialized with Bio-Rad's bead-based assays.
Under the partnership, CST will develop antibodies for kinase activation and protein phosphorylation assays to be used in Bio-Rad's multiplex bead-based assays for the Bio-Plex suspension array system.
CST will develop a broader array of antibodies for the Bio-Plex platform. Bio-Rad's phosphoprotein assays are optimized to simultaneously assess kinase and signaling protein activation states and provide critical tools for disease research and drug development.
Financial details were not disclosed.
Cyntellect Receives $2.2M Milestone Payment from Sigma-Aldrich
Cyntellect said this week that it has received an equity purchase milestone payment worth $2.2 million from Sigma-Aldrich for satisfying certain terms and conditions under the companies' exclusive Cell Xpress service commercialization agreement started one year ago.
Specifically, Sigma-Aldrich will use Cyntelletc's LEAP platform to support its Cell Xpress service business to identify and clone high-producing cells for the manufacture of biopharmaceuticals and diagnostic antibodies.