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Affymetrix buys Panomics for $73m

This article was originally published in Clinica

Executive Summary

Molecular diagnostics specialist Affymetrix has acquired Panomics, a developer of low- to mid-plex assays, in a bid to capitalise on the high-growth validation and routine-testing market segments. Privately-held Panomics will be bought for $73m in cash and the transaction is expected to close at the end of 2008. Fremont, California-based Panomics' assays currently run on an installed base of over 5,600 instruments. The assays, used for genetic, protein and cellular analysis, are designed for ease of use – they work on a wide range of sample types and do not require nucleic acid extraction or amplification, according to Affymetrix. The addition of Panomics' products will enable its acquirer to offer a more complete customer workflow, "beginning with whole-genome Affymetrix microarray studies and then focusing on genes and proteins of interest with the Panomics products", said Santa Clara, California-based Affymetrix.

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