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Affymetrix Closes $32.5 M Private Placement, Enters Agreement With Pfizer

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SANTA CLARA, Calif.--Affymetrix said it will use the proceeds of a recent stock sale to expand its manufacturing capabilities, research and development facilities, and sales and marketing efforts, and for other general corporate purposes. The company announced last month that it completed a private placement of 1 million shares of common stock for an aggregate purchase of $32.5 million to the Growth Fund of America, managed by Capital Research and Management.

Affymetrix announced separately that it entered an agreement with Pfizer through which the pharmaceutical company will gain preferential access to Affymetrix's standard and custom GeneChip arrays, instrumentation, and software. In addition to purchasing standard Affymetrix GeneChip probe arrays, which are derived from public databases, Pfizer may buy custom GeneChip products.

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