Nanogen to acquire Epoch

In vitro diagnostics maker to buy reagents manufacturer but keep separate R and D operations

Ivan Oransky(ioransky@the-scientist.com)
Sep 7, 2004

San Diego-based in vitro diagnostic manufacturer Nanogen agreed yesterday (September 7) to acquire Bothell, Washington-based Epoch Biosciences, a manufacturer of reagents for PCR and other genomic analysis techniques.

Reached en route to Seattle where he was due to address Epoch staff members, Nanogen CEO Howard Birndorf told The Scientist yesterday that "there's a great deal of synergy between the two companies. We've been talking to them for over a year, looking at their technology and doing a collaboration with them."

"We thought it was a really good fit and so did they," Birndorf said. "Hence the announcement today."

Epoch shareholders will be paid $2 worth of Nanogen stock per share–a 12% premium over yesterday's closing price of $1.78 and 30% above the average price for the 30 days ending September 1–for a total of about $58 million. The acquisition, which is expected to take place by the end of 2004,...

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