Bruker Completes Acquisition of PhenomeX
Bruker Corporation announced that it has completed the acquisition of PhenomeX, a leading provider of single-cell biology research tools, for $108 million in cash. Bruker announced the agreement to acquire PhenomeX on August 17, 2023.
PhenomeX is a functional cell biology company that provides single-cell biology research tools to deliver deep insights into cellular function and new perspectives on phenomes and genotype-to-phenotype linkages. PhenomeX key platforms include the Beacon® line of Optofluidic systems, which enables researchers to accelerate biologics product development by functional characterization of tens of thousands of single cells in parallel, while maintaining the cells in a healthy state for further genomic and proteomic profiling, connecting phenotype with genotype and other multiomic information. In addition, PhenomeX complements the Beacon line of products with the IsoSpark and IsoLight systems for highly multiplexed single-cell proteomic characterization.
“We are excited to welcome PhenomeX to Bruker,” commented Dr. Mark R. Munch, President of the Bruker NANO Group. “PhenomeX’s differentiated research tools are highly valued by customers in the attractive growth markets of antibody development, cell line development, cell and gene therapy, and many more. Also, PhenomeX’s platforms are highly complementary to our existing cellular and sub-cellular analysis tools including our high-performance CellScape™ spatial biology platform.”
Bruker expects to right-size PhenomeX’s cost structure immediately and expects the acquisition of PhenomeX to be slightly dilutive to Bruker’s non-GAAP EPS in 2024 and 2025, and accretive to Bruker’s non-GAAP EPS beginning in 2026. During its Q3 2023 earnings release, Bruker will provide more details on the expected Q4 2023 effect from PhenomeX. Today, Bruker reconfirms its medium-term financial outlook as issued at its Investor Day in June 2023.
As a result of the transaction closing, PhenomeX common stock will no longer be listed for trading on the Nasdaq Global Market. Also, PhenomeX will soon be changing its name.
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