Cytek Biosciences Acquires Tonbo Biosciences’ Cell Analysis Business
Cytek Biosciences (Nasdaq: CTKB) has announced the acquisition of the cell analysis business from Tonbo Biosciences. This acquisition expands Cytek's portfolio with life science research reagents related to cell preparation, molecular immunology, and flow cytometry. The integration of Tonbo’s reagents into Cytek's existing offerings aims to enhance its flow cytometry capabilities, particularly in protein and cell analysis. This strategic move reflects Cytek's commitment to delivering comprehensive solutions in the cell analysis market.
- Acquisition of Tonbo Biosciences expands Cytek's reagent portfolio, enhancing product offerings.
- The integration of Tonbo's reagents complements Cytek's proprietary cFluor® family, improving flow cytometry capabilities.
- Strengthened position in the cell analysis market by offering a total solution for customers.
- Risks associated with integrating Tonbo's business operations into Cytek's existing framework.
- Uncertainty regarding the realization of anticipated revenue and operational synergies from the acquisition.
FREMONT, Calif., Nov. 03, 2021 (GLOBE NEWSWIRE) -- Cytek® Biosciences, Inc. (Nasdaq: CTKB), a leading cell analysis solutions company, today announced that it has acquired the cell analysis business of Tonbo Biosciences™, which includes an extensive portfolio of life science research reagents related to cell preparation, flow cytometry, molecular immunology/PCR and cell culture covering application areas across immunology, apoptosis, and immunoprofiling.
The addition of the Tonbo Biosciences portfolio of reagents will enable Cytek to offer extended flow cytometry capabilities to meet customer needs in protein and cell analysis research. Tonbo’s reagents will complement Cytek’s cFluor® family of proprietary reagents, which represent the culmination of years of experience understanding full spectrum cytometry and how fluorophores react together in multicolor panels.
“Tonbo’s reagents meet the highest standards of quality and performance, making them a natural fit with our comprehensive suite of solutions for the cell analysis market," said Dr. Wenbin Jiang, president and CEO of Cytek. “Adding Tonbo’s reagent offerings to our existing Full Spectrum Profiling™ (FSP™) platform is yet another example of our commitment to redefining what is possible in flow cytometry and offering a total solution to our users.”
About Cytek Biosciences Inc.
Cytek Biosciences, Inc. (Nasdaq: CTKB) is a leading cell analysis solutions company advancing the next generation of cell analysis tools by delivering high-resolution, high-content and high-sensitivity cell analysis utilizing its patented Full Spectrum Profiling™ (FSP™) technology. Cytek’s novel approach harnesses the power of information within the entire spectrum of a fluorescent signal to achieve a higher level of multiplexing with exquisite sensitivity. Cytek’s FSP platform includes its core instruments, the Aurora and Northern Lights™ systems, the Aurora CS cell sorter, reagents, software and services to provide a comprehensive and integrated suite of solutions for its customers. Cytek is headquartered in Fremont, California with offices and distribution channels across the globe. More information about the company and its products is available at www.cytekbio.com.
Other than Cytek’s Northern Lights CLC system, which is available for clinical use in China and the European Union, Cytek’s products are for research use only – not for use in diagnostic procedures.
Cytek, Tonbo Biosciences, cFluor, Full Spectrum Profiling, FSP and Northern Lights are trademarks or registered trademarks of Cytek Biosciences, Inc.
In addition to filings with the Securities and Exchange Commission (SEC), press releases, public conference calls and webcasts, Cytek uses its website (www.cytekbio.com), LinkedIn page and corporate Twitter account as channels of distribution of information about its company, products, planned financial and other announcements, attendance at upcoming investor and industry conferences and other matters. Such information may be deemed material information and Cytek may use these channels to comply with its disclosure obligations under Regulation FD. Therefore, investors should monitor Cytek’s website, LinkedIn page, and Twitter account in addition to following its SEC filings, news releases, public conference calls and webcasts.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, may be forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “believes,” “anticipates,” “plans,” “expects,” “will,” “intends,” “potential,” “possible” and similar expressions, but the absence of such words does not mean that a statement is not forward-looking. These forward-looking statements include statements regarding Cytek’s expectations regarding its ability to offer extended flow cytometry capabilities to meet customer needs in protein and cell analysis research; the complementary fit of Tonbo’s reagents with Cytek’s cFluor® family of proprietary reagents; the fit of Tonbo’s reagents with Cytek’s comprehensive suite of solutions for the cell analysis market; Cytek’s ability to redefine possibilities in flow cytometry; and Cytek’s ability to offer a total solution to its customers. These statements are based on management’s current expectations, forecasts, beliefs, assumptions and information currently available to management and involve risks that may cause actual results to be materially different from the information expressed or implied by these forward-looking statements. Factors that could cause actual results to differ materially include risks and uncertainties relating to the acquisition, such as Cytek’s lack of experience in acquiring and integrating new businesses; risks relating to the integration of Tonbo Biosciences’ business and operations with those of Cytek; the possibility that Cytek will not realize anticipated revenue and potential operating expense synergies from the acquisition; the possible loss of key employees, customers, or suppliers as a result of the acquisition; and risks relating to maintaining material in-licensed intellectual property rights and risks and uncertainties relating to Cytek’s ability to manage the growth and complexity of its organization and market conditions, including any impact of the ongoing COVID-19 pandemic. You should refer to the section entitled “Risk Factors” set forth in Cytek’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2021, filed with the SEC on September 8, 2021, and other filings Cytek makes with the SEC from time to time for a discussion of important factors that may cause actual results to differ materially from those expressed or implied by Cytek’s forward-looking statements. Cytek disclaims any obligation to update any forward-looking statements provided except as required by law. These forward-looking statements should not be relied upon as representing Cytek’s views as of any date subsequent to the date of this press release.
Media Contact:
Stephanie Olsen
Lages & Associates
(949) 453-8080
stephanie@lages.com
Investor Relations Contact:
Carrie Mendivil/Mary Kate McDonough
Gilmartin Group LLC
investors@cytekbio.com
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