Bio-Rad To Acquire RainDance Technologies and Droplet Intellectual Property
HERCULES, Calif. — January 16, 2017 — Bio-Rad Laboratories, Inc. (NYSE: BIO and BIOb), a global provider of life science research and clinical diagnostic products, announced today that it has entered into a definitive agreement to purchase RainDance Technologies, Inc. The terms of the acquisition were not disclosed. Bio-Rad expects the transaction to close during the first quarter of 2017. The company will discuss the acquisition further during Bio-Rad’s upcoming fourth-quarter and full-year 2016 financial results conference call.
Based in Billerica, Massachusetts, RainDance Technologies’ foundational intellectual property portfolio and product lines encompass a wide range of biological reactions in droplets, with applications in life science research and clinical research. These genomic tools provide ultra-sensitive detection of genetic variations in cancer as well as inherited and infectious diseases, enabling research in areas such as non-invasive liquid biopsy.
“We are pleased to have RainDance join Bio-Rad,” said Norman Schwartz, Bio-Rad President and CEO. “The company’s droplet-based solutions will extend our reach into next generation sequencing applications and strengthen our position in the area of Droplet Digital PCR. We look forward to expanding our offering to provide life science and clinical diagnostics customers with solutions for a wide range of nucleic acid detection applications.”
About RainDance Technologies
Based in Billerica, Massachusetts, RainDance Technologies offers a proprietary droplet technology that enables research in areas such as non-invasive liquid biopsy. These ultra-sensitive genomic tools that include RainDrop® Digital PCR, ThunderStorm®, and ThunderBolts™ Next-Generation Sequencing Enrichment, offer accurate, reliable, and cost-effective detection of genetic variations in cancer as well as inherited and infectious diseases. RainDance customers include research institutions and laboratories around the world.
Bio-Rad Laboratories, Inc. (NYSE: BIO and BIOb) develops, manufactures, and markets a broad range of innovative products and solutions for the life science research and clinical diagnostic markets. The company is renowned for its commitment to quality and customer service among university and research institutions, hospitals, public health and commercial laboratories, as well as the biotechnology, pharmaceutical, and food safety industries. Founded in 1952, Bio-Rad is based in Hercules, California, and serves more than 100,000 research and healthcare industry customers through its global network of operations. The company employs more than 8,000 people worldwide and had revenues exceeding $2.1 billion in 2015. For more information, please visit www.bio-rad.com.
This release may be deemed to contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally can be identified by the use of forward-looking terminology such as, “believe,” “expect,” “anticipate,” “may,” “will,” “intend,” “estimate,” “continue,” or similar expressions or the negative of those terms or expressions, although not all forward-looking statements contain these words. Such statements involve risks and uncertainties, which could cause actual results to vary materially from those expressed in or indicated by the forward-looking statements. For further information regarding the Company’s risks and uncertainties, please refer to the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operation” in Bio-Rad’s public reports filed with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q. Bio-Rad cautions you not to place undue reliance on forward-looking statements, which reflect an analysis only and speak only as of the date hereof. We disclaim any obligation to update these forward-looking statements.
Bio-Rad Laboratories, Inc.
Tina Cuccia, Corporate Communications