Bionano Genomics has acquired Purigen Biosystems in a deal valued at up to $64 million. This includes $32 million in cash paid at closing subject to adjustment for, among other things, cash, unpaid indebtedness, unpaid transaction expenses and net working capital relative to a specified target. The remainder of the consideration is contingent on the achievement of certain milestones. The deal is expected to close on or before December 8, 2022.
Pleasanton, California-based Purigen Biosystems focuses on redefining nucleic acid sample preparation with a platform based on the isotachophoresis technology.
Bionano Genomics, which is located in San Diego, provides genome analysis solutions that can enable researchers and clinicians to reveal answers to challenging questions in biology and medicine. The company also provides diagnostic testing for patients with clinical presentations consistent with autism spectrum disorder and other neurodevelopmental disabilities.
According to the LevinPro HC database, this was the 119th Laboratories, MRI and Dialysis transaction of 2022. This compares with 105 Laboratories, MRI and Dialysis deals recorded between January 1, 2021, and December 6, 2021.
