PacBio (NASDAQ: PACB), a Menlo Park, CA-based developer of high-quality, highly accurate sequencing solutions, is to acquire Apton Biosystems, Inc., a Pleasanton, California-based company developing a high throughput short-read sequencer.
The acquisition agreement provides for upfront consideration of approximately $85m in an all-stock transaction consisting of approximately 6.3m shares of PacBio common stock plus an additional $25m in stock, cash, or a combination of stock and cash payable in connection with the achievement of $50m in revenue associated with a high throughput sequencer using Apton’s technology, for an overall transaction valued up to approximately $110m.
As a combined organization, PacBio plans to integrate its Sequencing by Binding (SBB™) short-read chemistry into Apton’s high throughput instrument to offer a differentiated high throughput sequencer.
Led by John Hanna, CEO, Apton Biosystems Apton is a developer of Super-Res™ sequencing and single-molecule detection systems for large-scale clinical applications such as early cancer detection and population sequencing. Its Super-Res™ technology sequences tens of billions of reads in a single run using simple, un-patterned flow cells that lower variable costs.
Led by Christian Henry, President and CEO, and Mark Van Oene, Chief Operating Officer, PacBio is a premier life science technology company that is designing, developing and manufacturing advanced sequencing solutions to help scientists and clinical researchers resolve genetically complex problems. Its products address solutions across a broad set of research applications including human germline sequencing, plant and animal sciences, infectious disease and microbiology, oncology, and other emerging applications.
FinSMEs
03/08/2023