- SomaLogic ( NASDAQ: SLGC ) to acquire Palamedrix, an innovator in DNA nanotechnology, that provides deep scientific and engineering expertise, miniaturization technology and enhanced ease-of-use capabilities that company intends to leverage as it develops the next generation of the SomaScan Assay.
- Under the terms of the merger agreement, company will pay at closing $35M, comprising $14M in cash and $21M in company stock.
- Up to an additional $17.5M may be paid in connection with the achievement of certain future revenue-based milestones.
- Transaction expected to close in Q3 and is not expected to contribute to revenue.
- As part of the transaction, company will obtain the intellectual property covering Palamedrix’s core DNA-based technology platform for the integration of molecular biosensors onto chips.
For further details see:
SomaLogic acquires Palamedrix to develop next-generation SomaScan Assay