Wednesday, September 9, 2009

Cell Biosciences Buys Alpha Innotech, Raises $19M

Santa Clara-based Cell Biosciences said late Tuesday that it has acquired Alpha Innotech Corp in a deal worth approximately $17.9M in cash. San Leandro-based Alpha Innotech develops digital imaging systems for genomic and proteomic research, and employs 62. Cell Biosciences said that Alpha Innotech was profitable and had revenues of $17.6M in 2008. Cell Biosciences said it raised $19M in a second, Series C closing and a Series D funding for the acquisition, which was led by The Wellcome Trust, and also included Domain Associates, Novo A/S, Latterell Venture Partners, The Vertical Group, and the Royal Bank of Canada. The firm was advised by BroadOak Partners in the deal.