Bio-Rad, Ciphergen sign $20M deal

Bio-Rad Laboratories has inked a $20 million deal to acquire Ciphergen Biosystems' proteomics instrument business, including ProteinChip Systems and worldwide technology rights to Surface Enhanced Laser Desorption/ Ionization (SELDI-TOF-MS). Bio-Rad is also making a $3 million equity investment in Ciphergen. "The combination of Ciphergen's leading SELDI proteomics technology and our expertise in life sciences will serve to provide researchers and scientists with a broader range of innovative tools for discovery," Norman Schwartz, Bio-Rad President and CEO, said in a statement. "In addition, our equity investment reinforces this relationship and our belief in this technology as applied to the diagnostics market."

- check out the press release for details on the deal