Sequenom Sells Bioscience Business to Agena
News May 30, 2014
The terms of the agreement provide for a purchase price of $31.8 million, subject to certain adjustments, and Sequenom may also receive up to $4 million in contingent consideration upon the achievement of certain regulatory and sales milestones. Agena Bioscience also assumed certain liabilities related to the Bioscience business, which does not include any portion of Sequenom's bank debt or convertible notes outstanding. The facility lease for its Bioscience location in San Diego was also assumed by Agena Bioscience. All of the current Bioscience employees will be offered employment by Agena Bioscience.
"We are pleased to sell the business to Agena Bioscience and Telegraph Hill Partners as they plan to invest in the growth of the Bioscience business to achieve its full potential. This sale strengthens our balance sheet, and will enable us to focus exclusively on our Sequenom Laboratories business as we work toward achieving profitability," said Harry F. Hixson, Jr., Chairman and CEO of Sequenom.
The acquired business will continue to manufacture and sell the MassARRAY® System, a proprietary mass spectrometry-based genetic analysis instrument and associated products and services that provide research and clinical investigators with economical high multiplexing, high volume results, and precise quantification in a well-established platform technology.
Stable Beta-Amyloid Dimers Identified in Alzheimer’s BrainsNews
A recent study exploited state-of-the-art mass spectrometry to provide the first direct evidence of beta-amyloid dimers in patients with Alzheimer’s disease and points to the potential of these molecules as biomarkers. Beta-amyloid dimers may be the smallest pathological species that trigger Alzheimer’s disease.
A Fatal AttractionNews
Malaria causes the bodies of its human hosts to emit specific odours from the skin that make the hosts even more attractive to mosquitoes, perpetuating transmission. Researchers have now identified the odours as organic hydrocarbons heptanal, octanal and nonanal, whose discovery could bring relief to a disease that claimed nearly half a million lives in 2016.READ MORE
Detection of Little-Known Flame Retardant in the EnvironmentNews
Chemists have discovered a new and relatively unknown flame retardant, TTBP-TAX, in the environment. The chemical was not only identified in an electronic waste facility, where it would be expected, but in the bedrooms and living rooms of homes.READ MORE