Affymetrix Completes Acquisition of Panomics
News Dec 09, 2008
Affymetrix, Inc. has announced the completion of its acquisition of Panomics, Inc., a privately held, Fremont, Calif.-based company which offers a suite of assay products for a wide variety of low- to mid-plex genetic, protein, and cellular analysis applications.
“The acquisition of Panomics will strengthen our position in the high-growth market segments of validation and routine testing and create further operating leverage,” said Kevin King, president of Affymetrix. “Customers will benefit from a more complete workflow, beginning with whole-genome Affymetrix microarray studies and then using Panomics products to focus on genes and proteins of interest.”
Panomics has grown rapidly with a number of low- to mid-plex products and sells into an installed base of more than 5,600 instruments worldwide. These products cover a broad range of sample types and offer a direct assay approach with high sensitivity and specificity.
The assays do not require nucleic acid extraction or amplification, which streamlines workflows for applications such as gene expression, copy number, and cytogenetics.
Panomics products complement Affymetrix’ recently acquired liquid array technology and will enable the company to address low- to mid-plex genetic analysis requirements effectively.
In connection with the completion of the acquisition, Affymetrix is paying approximately $73 million in cash to acquire Panomics.