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Ciphergen Stockholders Approve SELDI Divestiture to Bio-Rad

Oct 29, 2006
NEW YORK (GenomeWeb News) — Ciphergen Biosystems’ shareholders have given the company the green light to sell its proteomics instrument business to Bio-Rad Laboratories.
 
Under the terms of the agreement, originally disclosed in August, Ciphergen will unload the hardware branch to Bio-Rad for about $20 million in cash and a $3 million equity investment.
 
Ciphergen, which will now focus on its specialty diagnostic business, said it expects the deal to close before Nov. 1.
 
With the acquisition, Bio-Rad will be able to make and market Ciphergen’s surface enhanced laser desorption ionization technology, also known as SELDI, to the life sciences market for various proteomics applications.
 
Bio-Rad recently made two other purchases into the medical diagnostics market: The company bought Blackhawk Biosystems, a maker of infectious disease diagnostic products, for an undisclosed sum, and acquired Provalis’ medical diagnostic business for $3 million.
 
 

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