Sale of Flow Cytometry and Imaging Business From DiaSorin to Cytek® Biosciences Completed
DiaSorin and Cytek Biosciences announced the sale of substantially all assets from Luminex Corporation's Flow Cytometry & Imaging business to Cytek for approximately USD 46.5 million. This transaction, aligning with DiaSorin's strategic focus communicated to investors, is expected to enhance Cytek’s product capabilities and operational efficiency. It supports Cytek’s goals to develop new products and serve previously underserved customer segments. DiaSorin operates globally in the In Vitro Diagnostic field, emphasizing continuous investment in research and development.
- Sale of Flow Cytometry & Imaging business for USD 46.5 million enhances cash position.
- Supports Cytek's expansion into new customer segments and development of new products.
- Aligns with DiaSorin's strategic focus on core competencies.
- Possible risks associated with integration of acquired business and realization of expected benefits.
- Uncertainties in market conditions could impact future performance.
SALUGGIA, Italy, and FREMONT, Calif., Feb. 28, 2023 (GLOBE NEWSWIRE) -- DiaSorin (FTSE MIB: DIA) and Cytek Biosciences, Inc. (Nasdaq: CTKB) today announced that Luminex Corporation, a wholly owned subsidiary of DiaSorin, has completed the sale of substantially all of its assets related to the Flow Cytometry & Imaging (FCI) business unit to Cytek for approximately USD 46.5 million.
The decision to sell the FCI business unit to Cytek, announced on February 13, 2023, is in line with DiaSorin’s strategic priorities communicated to investors during the Capital Market Day in December 2021 to focus on the core for its future. The acquisition supports Cytek’s plan to develop new products and capabilities with FCI technology, expand its reach and offerings into customer segments previously underserved, and increase the efficiency of its operations.
About DiaSorin
Headquartered in Italy and listed at the Italian Stock Exchange in the FTSE MIB Index, DiaSorin is a global leader in the In Vitro Diagnostic (IVD) field and is active since 2021 in the Life Science business. For over 50 years, the Company has been developing, producing and marketing reagent kits used by diagnostic laboratories worldwide.
The Group operates in 5 continents through 41 companies, 4 branches, 10 manufacturing facilities and 9 research and development centers. The extensive diagnostic testing and Life Science offer, made available through continuous investments in research, positions DiaSorin as the player with the broadest range of specialty tests available within the diagnostic market, and identifies the Group as the “Diagnostic Specialist.”
More info at www.diasoringroup.com
About Cytek Biosciences, Inc.
Cytek Biosciences (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 precision and sensitivity. Cytek’s FSP platform includes its core instruments, the Aurora and Northern Lights™ systems; its cell sorter, the Aurora CS; and 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 and certain reagents for use therewith, which are available for clinical use in countries where the regulatory approval has been obtained from the local regulatory authorities, including China and the European Union, Cytek’s products are for research use only and not for use in diagnostic procedures. Please contact your local sales representatives for the status of local regulatory approval.
Cytek, 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, YouTube channel, 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 as contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are subject to the “safe harbor” created by those sections. 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 “may,” “might," "will,” “should,” “expect,” “plan,” “anticipate,” “could,” “intend,” “target,” “project,” “contemplate,” “believe,” “estimate,” “predict,” “potential” or “continue” or the negatives of these terms or variations of them or similar terminology, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include statements regarding Cytek’s plan to develop new products and capabilities with the FCI technology, expand its reach and offerings into customer segments previously underserved, and increase the efficiency of its operations. These statements are based on management’s current expectations, forecasts, beliefs, assumptions and information currently available to management. These statements also deal with future events and involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements 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 such as those relating to Cytek’s ability to integrate the operations and employees of the FCI business; Cytek’s ability to recognize the anticipated benefits of the transaction; Cytek’s ability to manage the growth and complexity of its organization, maintain relationships with customers and suppliers and retain key employees; and uncertainties relating to market conditions. You should refer to the section entitled “Risk Factors” set forth in Cytek Biosciences’ Quarterly Report on Form 10-Q filed with the SEC on November 9, 2022, Annual Report on Form 10-K to be filed with the SEC, and other filings Cytek Biosciences 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 Biosciences’ forward-looking statements. Although Cytek Biosciences believes that the expectations reflected in the forward-looking statements are reasonable, it cannot provide any assurance that these expectations will prove to be correct nor can it guarantee that the future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or occur. The forward-looking statements in this press release are based on information available to Cytek Biosciences as of the date hereof, and Cytek Biosciences disclaims any obligation to update any forward-looking statements provided to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based, except as required by law. These forward-looking statements should not be relied upon as representing Cytek Biosciences’ views as of any date subsequent to the date of this press release.
| DiaSorin Contacts | ||
| Investor Relations | ||
| Riccardo Fava Corporate Vice President Communication & Investor Relations riccardo.fava@diasorin.it | Eugenia Ragazzo Corporate Investor Relations & ESG Analyst eugenia.ragazzo@diasorin.it | |
| Cytek Contacts | ||
| Media Relations | Investor Relations | |
| Stephanie Olsen Lages & Associates (949) 453-8080 stephanie@lages.com | Paul Goodson Head of Investor Relations Cytek Biosciences pgoodson@cytekbio.com | |
FAQ
What is the value of the asset sale from DiaSorin to Cytek Biosciences?
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