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GEN News Highlights : Jan 29, 2014

Fluidigm Acquires DVS Sciences for $207.5M

Fluidigm will acquire DVS Sciences in an approximately $207.5 million cash and stock deal that expands the buyer’s portfolio of technologies serving the single-cell genomics and proteomics markets, the companies said today.

The deal will combine Fluidigm’s microfluidics systems—including 18 different commercial integrated fluidic circuits for nucleic acid analysis, and three families of assay chemistries—with DVS’ multiparameter single-cell protein analysis systems. DVS’ principal product, the CyTOF®2 Mass Cytometer, is designed to analyze antibody/metal complexes using atomic mass spectrometry, enabling high-parameter single-cell protein analysis.

“We waited for the perfect fit and believe we have found such a gem with DVS Sciences,” Gajus Worthington, Fluidigm’s president and CEO, said in a statement. “DVS’ mass cytometry technology combines the advantages of high-throughput flow cytometry with the accuracy and resolution of mass spectrometry, enabling high-parameter single-cell protein analysis.

According to Worthington, the DVS acquisition will increase Fluidigm’s single-cell revenue immediately, as well as expand the addressable market to include the high-end research flow-cytometry segment: “It also expands our analytical breadth to include single-cell protein analysis.”

The deal, which is subject to customary closing conditions, is expected to close next month. Upon completion, DVS would become a wholly owned subsidiary of Fluidigm.

As part of the deal, DVS co-founders Dmitry Bandura, Vladimir Baranov, and Scott Tanner, Ph.D., are among several members of DVS’ management, operations, and R&D teams that will join Fluidigm.

The combination of DVS’ technology for protein analysis and Fluidigm’s technology for nucleic acid analysis provides researchers with solutions that could transform single-cell analysis for life sciences research, drug development, and potentially diagnostics,” said Dr. Tanner, who is also DVS’ CTO.

Separately, Fluidigm said it would pay the cash portion of the DVS acquisition by using $119.7 million of a $175 million public offering of its convertible senior notes due 2034, and the remaining net proceeds “for research and development, commercialization of its products, working capital, and other general corporate purposes.”