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news.Affymetrix, a developer of consumables and systems for genetic analysis, has completed its acquisition of Panomics, a life science company which offers a suite of assay products for a variety of low- to mid-plex genetic, protein, and cellular analysis applications.
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In connection with the completion of the acquisition, Affymetrix is paying approximately $73 million in cash to acquire Panomics.
Founded in 2000, Panomics offers a platform of reagents and products that enable the multiplex measurement of molecular events, such as intracellular pathway analysis, cell signaling and gene expression profiling, in a quantitative and scalable manner. Panomics is known for its proprietary branched DNA technology for gene expression analysis in cell-based assays, as well as its signal transduction and transcription factor assays.
Panomics products are expected to complement Affymetrix’s recently acquired liquid array technology and will enable the company to address low- to mid-plex genetic analysis requirements more effectively.
Kevin King, president of Affymetrix, said: The acquisition of Panomics will strengthen our position in the high-growth market segments of validation and routine testing and create further operating leverage.
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.
Affymetrix develops genetic technology that is used by pharmaceutical, diagnostic and biotechnology companies, as well as academic, government and not for-profit research institutes.