Patch Clamp Company Acquired
Competitors in the automated patch clamp market include Molecular Devices and Cellectricon. Sophion Biosciences was acquired from NeroSearch and venture capital companies. Biolin’s current end-user markets include materials science and biophysics. In 2010, Biolin recorded sales of DKK 142 million ($25.2 million = DKK 5.63 = $1) and an operating profit of DKK 12 million ($2.1 million).
Stockholm, Sweden 7/6/11; Västra Frölunda, Sweden 7/6/11; Ballerup, Denmark 7/6/11—Biolin Scientific has agreed to acquire Sophion Bioscience, a provider of automated patch clamp products for ion channel research, for DKK 145 million ($28.1 million = DKK 5.15 = $1) and an additional DKK 10 million ($1.9 million) related to sales milestones. Based in Copenhagen, Denmark, with 50 employees, Sophion Bioscience had 2010 revenues of DKK 83 million ($16.1 million) and an operating profit of DKK 8 million ($1.6 million). “Biolin’s strength thus far has been within material science at the same time as we have made efforts to increase our presence within life science,” stated Biolin Scientific CEO Jan Wahlström. Earlier this year, Biolin was acquired by Swedish private equity firm Ratos (see IBO 11/30/10), which is providing DKK 50 million ($9.7 million) for the acquisition. The deal is expected to close in the third quarter.
