Agena Bioscience Inc., Sequenom deal
Sequenom sold its bioscience business to diagnostics company Agena for $31.8 million up front in cash. Sequenom is also eligible for up to $4 million in regulatory and sales milestones. The bioscience business, formerly known as the genetic analysis business, is focused on developing components and applications for the research use-only MassArray genetic measurement system. Agena said it plans to enhance MassArray with expanded hardware automation, software functionality and assay content. The company also plans to introduce MassArray on the in vitro diagnostic market for use with Sequenom's Impact Dx System. The system, which detects multiple analytes in a DNA sample utilizing matrix-assisted desorption ionization time-of-flight (MALDI-TOF) mass spectrometry, is under FDA review. Jefferies was financial advisor to Sequenom on the deal. ...