Thermo Fisher Scientific Acquires Leading Cell Sorting Technology from Propel Labs

Rhea-AI Summary

Thermo Fisher Scientific (NYSE:TMO) has acquired cell sorting technology assets from Propel Labs, enhancing its Biosciences business. This includes the Bigfoot Spectral Cell Sorter, which offers advanced sorting capabilities and faster throughput. Approximately 40 employees from Propel Labs will join Thermo Fisher, while Propel will continue operating independently. The Bigfoot technology aims to meet growing demands in cell and gene therapies, addressing significant challenges in cytometry analysis. Thermo Fisher's annual revenue exceeds $30 billion, positioning it well to improve healthcare outcomes.

Positive

• Acquisition of Bigfoot Spectral Cell Sorter enhances Thermo Fisher's product offerings in cell sorting.
• Addition of 40 skilled employees from Propel Labs strengthens R&D and engineering capabilities.
• Bigfoot technology improves sorting speed by up to 10 times while maintaining cell viability.
• Strategically positions Thermo Fisher to meet rising demand in cell and gene therapy markets.

Negative

• None.

WALTHAM, Mass., Feb. 17, 2021 /PRNewswire/ -- Thermo Fisher Scientific Inc. (NYSE:TMO), the world leader in serving science, today announced it has acquired cell sorting technology assets from Propel Labs, a wholly-owned subsidiary of SIDIS Corp. Under the terms of the agreement, the recently introduced Bigfoot Spectral Cell Sorter and approximately 40 employees will become part of Thermo Fisher's Biosciences business. Propel Labs will continue to operate as a separate entity and serve its existing customers.

"Cell sorting is an essential discovery tool used by many of our customers, allowing for the separation of specific cell types from complex samples. A first-of-its kind, the Bigfoot Spectral Cell Sorter brings more powerful sorting capabilities, faster throughput and novel safety features complementing our already strong flow cytometry offering," said Mark Stevenson, executive vice president and chief operating officer of Thermo Fisher Scientific. "As the market for cell and gene therapies, immuno-oncology and other promising medicines drive increased expectations from researchers, we are really well positioned to support our customers in their work to improve healthcare outcomes."

Researchers are asking for cytometry analysis and sorting techniques with greater multiplexing capabilities to gain deeper biological insights. Current tools only meet some of these challenges. The high-speed electronics and innovative design of the Bigfoot Spectral Cell Sorter accelerate sorting by up to 10 times that of other available technologies, while maintaining cell viability and improving ease of use. It also has an integrated Class II biocontainment system that eliminates the need for separate biosafety cabinets. With this new technology, researchers can study more cell populations from samples of limited quantity, enabling a better understanding of biological systems at a scale and resolution needed for advancing science.

Stevenson added, "We look forward to welcoming the highly talented members of the Propel Labs Bigfoot team who bring additional flow cytometry expertise, R&D capabilities and engineering strength to Thermo Fisher, helping to further elevate our cell analysis and cell therapy research business."  

The Biosciences business is part of the Life Sciences Solutions Segment. 

About Thermo Fisher Scientific

Thermo Fisher Scientific Inc. is the world leader in serving science, with annual revenue exceeding $30 billion. Our Mission is to enable our customers to make the world healthier, cleaner and safer. Whether our customers are accelerating life sciences research, solving complex analytical challenges, improving patient diagnostics and therapies or increasing productivity in their laboratories, we are here to support them. Our global team of more than 80,000 colleagues delivers an unrivaled combination of innovative technologies, purchasing convenience and pharmaceutical services through our industry-leading brands, including Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, Unity Lab Services and Patheon. For more information, please visit www.thermofisher.com.

About SIDIS Corp.

SIDIS Corp. is a global, privately held, purpose-driven company that invests in and manages market-leading life science companies to advance human health. For more information, please visit www.sidisglobal.com.

Safe Harbor Statement

The following constitutes a "Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements that involve a number of risks and uncertainties. Important factors that could cause actual results to differ materially from those indicated by forward-looking statements include risks and uncertainties relating to: the duration and severity of the COVID-19 pandemic; the need to develop new products and adapt to significant technological change; implementation of strategies for improving growth; general economic conditions and related uncertainties; dependence on customers' capital spending policies and government funding policies; the effect of economic and political conditions and exchange rate fluctuations on international operations; use and protection of intellectual property; the effect of changes in governmental regulations; and the effect of laws and regulations governing government contracts, as well as the possibility that expected benefits related to recent or pending acquisitions may not materialize as expected. Additional important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are set forth in our most recent annual report on Form 10-K and subsequent quarterly reports on Form 10-Q, which are on file with the SEC and available in the "Investors" section of our website under the heading "SEC Filings." While we may elect to update forward-looking statements at some point in the future, we specifically disclaim any obligation to do so, even if estimates change and, therefore, you should not rely on these forward looking statements as representing our views as of any date subsequent to today.

Media Contact Information:
Ron O'Brien
Phone: 781-622-1242
E-mail: ron.obrien@thermofisher.com

Investor Contact Information:
Rafael Tejada
Phone: 781-622-1356
E-mail: rafael.tejada@thermofisher.com

 

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SOURCE Thermo Fisher Scientific

FAQ

What technology did Thermo Fisher acquire from Propel Labs?

Thermo Fisher acquired the Bigfoot Spectral Cell Sorter and cell sorting technology assets from Propel Labs.

How does the Bigfoot Spectral Cell Sorter improve research capabilities?

The Bigfoot sorter accelerates sorting speed by up to 10 times compared to existing technologies, enhancing cytometry analysis.

What is the significance of Thermo Fisher's acquisition for the market?

This acquisition strengthens Thermo Fisher's position in the growing cell and gene therapy market, enabling better healthcare outcomes.

How many employees joined Thermo Fisher from the acquisition?

Approximately 40 employees from Propel Labs will join Thermo Fisher as part of the acquisition.