Bio-Rad Closes Purchase of Ciphergen Proteomic Tools Business
Two weeks after its anticipated closing date, Bio-Rad’s purchase of Ciphergen’s life science research business for $20 million in cash was finalized this week.
Bio-Rad is also making a $3 million equity stake in Ciphergen as part of the deal.
Bio-Rad now has worldwide rights to the Surface Enhanced Laser Desorption/Ionization technology, the ProteinChip systems, accompanying software, and biomarker development services. Bio-Rad will manufacture, sell, and market the SELDI technology to the life sciences market for applications such as biomarker discovery, characterization, and validation.
Ciphergen, which now becomes a specialty diagnostics firm, will retain exclusive rights to the products for the diagnostic market. The agreement also calls for Ciphergen to purchase SELDI instruments and consumables to help build its diagnostics business.
The deal originally announced in August was expected to close on Nov. 1.
A Bio-Rad spokeswoman declined to comment on the delay. A Ciphergen spokesman did not respond to a request for comment.
In a statement, Norman Schwartz, president and CEO of Bio-Rad said the deal enriches the company’s offering of proteomic tools. “Ciphergen products enable protein profiling and biomarker discovery and are a perfect complement to Bio-Rad's existing product line,” he said.
Ciphergen President and CEO Gail Page said the sale allows the company to concentrate on developing “high value molecular diagnostics, which can improve a physician's ability to diagnose and treat their patients.”
Sentigen Shareholders OK Sale to Invitrogen
Sentigen announced that shareholders this week approved the $25.9 million sale of the company to Invitrogen. The deal was announced by the companies in late August.
The terms of the deal call for Invitrogen to pay $3.37 for each issued and outstanding share of Sentigen stock, a 35 percent increase over the average closing price of Sentigen common stock for the 30-business-day period prior to the execution of the merger agreement.
In a statement, Sentigen said the deal is expected to close within the next few weeks.
Sentigen also announced that prior to the merger, it will distribute shares of SentiSearch, a newly formed company, pro rata to the then-existing shareholders of Sentigen. SentiSearch is expected to be a public company, initially holding certain olfaction IP previously owned by Sentigen.
Thermo Fisher Execs Unload Shares
Certain top executives of newly created Thermo Fisher Scientific have adopted a plan to unload millions of shares of the company’s stock, the company said this week.
The firm said Chairman Paul Meister plans to sell up to 2.25 million shares and CEO Marijn Dekkers plans to sell just over 1 million shares. The sale would leave Meister with 2.25 million shares and Dekkers with 2.9 million shares or equivalents.
Dekkers would acquire the shares he plans to sell when he exercises a stock option that was granted when he joined Thermo in 2000. The option expires in July 2007.
Thermo Fisher Scientific said the plan by Meister, Dekkers, and other “certain executive officers” is based on Securities and Exchange Commission stock-trading rules.
Thermo Electron and Fisher Scientific closed their $10.6 billion merger on Nov. 9 creating Thermo Fisher Scientific.
Dekkers’ and Meister’s shares amount to around 2 percent of the company’s outstanding shares.
Waters Combines Synapt Technology with Advion’s TriVersa NanoMate
Waters and Advion Biosciences announced last week a collaboration to integrate Waters’ Synapt HDMS with Advion’s TriVersa NanoMate chip-based infusion technology.
The collaboration combines “the ease and reproducibility of [the TriVersa NanoMate] with the additional dimension of ion mobility-based separation provided by the Waters Synapt HDMS system,” the companies said in a statement.
Primary applications of the combined technologies include analysis of multi-proteins, protein-ligand complexes, top-down proteomics, and monoclonal antibodies, the companies said.
ProteoPure Inks Distribution Agreement with Axxora
Axxora will distribute Proteopure’s ProteoHook Protein Sample Preparation Kits under an agreement reached by the two companies announced this week.
Terms of the agreement were not disclosed.
In a statement, Richard Ekstrom, president of Proteopure, said the agreement will increase the visibility of the kit “especially in Europe where considerable proteomic research is underway.”
Genetix Forced to Raise Its Bid for Applied Imaging
Genetix last week said it had raised its bid for Applied Imaging to $4.20 per share from $3.80 per share in response to an unsolicited bid by a third party for Applied Imaging.
Since originally announcing the merger in September, Genetix has been forced to raise its bid of $3.03 per share a number of times in response to unsolicited bids by third parties. In November, it raised its bid to $3.80 from $3.70.
Applied Imaging will hold a shareholders’ meeting on Nov. 21 for approval of the deal.
Sigma-Aldrich Declares Stock and Cash Dividend
Sigma-Aldrich’s board declared a 100 percent stock dividend by authorizing the issuance of one additional share of common stock for each share held as of December 15. The stock dividend will be paid on Jan. 2.
The board also declared a quarterly cash dividend of $.21 per share to be paid on Dec. 15 to shareholders of record on Dec. 1.
Rules-Based Medicine, Multiplex Biosciences Merge
Rules-Based Medicine announced it has merged with Multiplex Biosciences. Terms of the transaction were not disclosed.
Based in Austin, Texas, RBM is a biomarker testing laboratory. Its multi-analyte profiles measure up to several hundreds of proteins from a small volume in multiple sample types and species, the company said in a statement.
MB, based in Lake Placid, NY, provides multiplex immunoassay development, validation and manufacturing services to pharmaceutical firms, biotech firms, and academic research institutions. It also develops its own line of multiplex products.
Ludesi Technology Chosen by John Hopkins Proteomics Center
Ludesi announced this week that the John Hopkins Bayview Proteomics Center has chosen the company’s technology for gel image analysis obtained from 2D gel electrophoresis.
The proteomics center is led by Jenny Van Eyk who is conducting research on tissue and serum for the development of diagnostics and treatments for heart disease.
Belgian Proteomics Center Chooses GenoLogics’ Proteus Software
GenoLogics Life Sciences Software announced this week that its Proteus software package has been chosen for use by the ProMeta Interfaculty Center for Proteomics and Metabolomics at the University of Leuven in Belgium.
In a statement the company said that its Proteus software will increase automation of instruments and data integration with downstream search engine processes, resulting in a decrease in turnaround time.
Pressure BioSciences Receives S&P Factual Stock Report Coverage
Standard & Poor’s said this week it has initiated Factual Stock Report coverage of Pressure Biosciences. The FSR covers about 1,000 companies, and analyzes public information about them including income statement, recent developments, and industry and peer comparisons.
The reports do not offer investment opinions about the companies, however.