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Bio-Rad Acquisition of Ciphergen's Tools Business Delayed

NEW YORK (GenomeWeb News) — Ciphergen’s sale of its proteomics tools business to Bio-Rad did not close on Nov. 1 as originally expected.
 
After Ciphergen’s shareholders approved the sale last week the company said it expected the transaction to close before Nov. 1. But as of yesterday the deal had not closed.
 
A Bio-Rad spokeswoman declined to comment on the delay but said Wednesday that the deal could be finished within the next few days.
 
As GenomeWeb News reported, Bio-Rad said in August it would buy Ciphergen’s proteomics tool business, including its SELDI platform, for $20 million in cash plus a $3 million equity investment.
 
Ciphergen said that it will retain exclusive rights to the products for the diagnostics market, and that it will maintain a supply agreement with Bio-Rad to purchase SELDI instruments and consumables for the continued development of its diagnostics business. The companies will also collaborate to identify SELDI customers interested in partnering with Ciphergen to commercialize biomarker discoveries, Ciphergen said.
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