Dublin, Ireland. 30 January 2019. Seroba portfolio company, Labcyte, has been acquired by Beckman Coulter Life Sciences, part of the larger Danaher Corporation which generates approximately $6.5 billion in annual revenue.
Labcyte is best known for its Echo® acoustic droplet ejection technology, which uses sound waves to transfer tiny amounts of liquid with unequalled speed and accuracy. This technology—the centerpiece of Labcyte’s Echo Liquid Handlers—enables walkaway convenience and integration capabilities. Labcyte technology enables faster and more cost-effective laboratory workflows in applications such as drug discovery and genomics.
Seroba’s first fund acquired shares in Labcyte when an earlier portfolio company, Deerac Fluidics, merged with Labcyte in 2008. Deerac was a spin-out from the Physics Department of Trinity College Dublin.
Peter Sandys, Managing Partner of Seroba commented. “With several highly innovative new products just coming on stream, we believe that Labcyte was an attractive target for companies wishing to gain exposure to the huge growth in laboratory automation expenditure for drug discovery and genomics.”
Speaking about the acquisition, Jonathan Pratt, President, Beckman Coulter Life Sciences said “Labcyte’s unique product portfolio complements our existing liquid handling and laboratory automation business. It provides new opportunities to develop and enhance time-saving solutions for customer workflows. Labcyte and Beckman Coulter Life Sciences share a common vision of advancing science through discovery, enabling the faster discovery and development of life-changing advances in medicine. Together we will make a powerful team, and an invaluable resource for current and future customers around the world.”
Richard Ellson, CTO and a Founder of Labcyte added “It has been an exciting journey—from developing acoustic liquid-dispensing technology in a garage to establishing a global presence, and now to be joining forces with a life sciences technology leader. Acoustic liquid handling is quickly becoming the backbone for high-throughput, automated workflows, and we look forward to accelerating growth and innovation as part of the Beckman Coulter Life Sciences team.”
About Beckman Coulter Life Sciences
Beckman Coulter Life Sciences develops, manufactures and markets products that simplify, automate and innovate complex biomedical testing. For more than 75 years, our products have been making a difference in people’s lives by improving the productivity of medical professionals and scientists, supplying critical information for improving patient health and delivering trusted solutions for research and discovery. Scientists use our life science research instruments to study complex biological problems including causes of disease and potential new therapies or drugs. For more information, visit https://www.beckman.com
About Labcyte, Inc.
Labcyte, a global biotechnology tools company headquartered in San Jose, California, is revolutionizing liquid handling. Echo® Liquid Handlers use sound to precisely transfer liquids without contact, eliminating the use of pipettes. Labcyte instruments are used worldwide throughout the pharmaceutical and biotechnology industries, as well as by hospitals, service laboratories, contract research organizations, and academic institutions. Our customers work across a wide spectrum of scientific research, including drug discovery, genomics, proteomics, diagnostics and personalized medicine. Labcyte has 63 U.S. patents and others internationally. For more information, visit https://www.labcyte.com