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December 23, 2022

California biotech buys Branford’s IsoPlexis for $57.8M

PHOTO | CONTRIBUTED IsoPlexis' IsoSpark instrument
By Liese Klein

A California bioscience company has acquired Branford’s IsoPlexis in an all-stock transaction valued at $57.8 million, the companies announced this week.

Berkeley Lights, based in Emeryville, Calif., said it intends to combine the two companies’ similar cell biology technologies, customer bases and commercial channels to form a new firm, to be called PhenomeX.

PhenomeX will provide live cell biology research tools and new perspectives on the phenome, a cell’s combination of genetic traits and environmental factors.

IsoPlexis instruments focus on how multi-functional immune cells communicate and respond, while Berkeley Lights technology enables customers to analyze and choose the best cells for research. IsoPlexis sells a benchtop device called the IsoSpark to researchers for cell analysis.

IsoPlexis CEO Sean Mackay said, “This transaction brings together two companies whose innovative solutions will help establish a technology leader in functional cell biology.”

The transaction is scheduled to close in the first quarter of 2023, pending approval by shareholders of Berkeley Lights and IsoPlexis and other closing conditions.

As part of the deal, the combined company will be led by Berkeley Lights’ board of directors, with Berkeley Lights CEO Siddhartha Kadia serving as CEO and IsoPlexis CEO Sean Mackay expected to be appointed chief product officer.

Following the close of the transaction, Berkeley Lights shareholders will own approximately 75.2% of the combined company, and IsoPlexis shareholders will own approximately 24.8%.

IsoPlexis announced in February it was setting up an office in Shanghai, China, with the goal of expanding sales in the Asia-Pacific region.

Contact Liese Klein at lklein@newhavenbiz.com.

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