Affymetrix is buying South San Francisco-based ParAllele BioScience for $120 million in stock. The two have already been collaborating for the past two years. ParAllele can track thousands of drug reactions in a test tube with its assay technology while Affymetrix's technology opens up exploration of the genome.
"Together, Affymetrix and ParAllele have enabled new areas of science by offering products to explore the whole genome, as well as specific regions of interest," said Stephen P.A. Fodor, PhD, founder, chairman and CEO of Affymetrix. "The potential for ParAllele's technology goes far beyond genotyping. We will combine both companies' technologies to accelerate discovery and product development in a wide variety of areas, from basic research to the clinic."
- read this story from the AP on the buyout