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GEN News Highlights : Nov 30, 2011

Affymetrix to Pay $330M to acquire eBioscience

Affymetrix gains flow cytometry and immunoassay products.

Affymetrix is buying San Diego-based eBioscience for $330 million in cash. eBioscience is specialized in the field of flow cytometry and immunoassay reagents for immunology and oncology research and diagnostics.

Affymetrix says the acquisition will complement its traditional businesses of genomics and cytogenetics, enhance its molecular diagnostics business, and expand its product portfolio to include multicolor flow cytometry reagents and a range of reagents for analyzing cytokines, growth factors, and other soluble proteins. The takeover will in addition boost new product and growth opportunities for its Panomics subsidiary’s RNA and protein analysis business.

eBiosciences is predicted to generate sales of over $70 million in 2011, with gross margins in excess of 70%, Affymetrix says. “The acquisition of eBioscience is transformational for our business,” comments Frank Witney, Ph.D., president and CEO. “With eBioscience, Affymetrix will significantly expand its addressable markets by adding an industry-leading portfolio of cell-based assays and immunoassays. These new products are a critical part of our customers’ workflow in our key target markets of translational medicine, oncology, and immunology.”