Sequenom Completes Sale Of Bioscience Business To Agena Bioscience - Quick Facts

(RTTNews) - Sequenom, Inc. (SQNM), a life sciences company providing innovative genetic analysis solutions, announced that it has completed the sale of its Bioscience business to Agena Bioscience, a portfolio company of Telegraph Hill Partners.

Going by terms of the agreement, the company said the purchase price is $31.8 million, subject to certain adjustments, and Sequenom may also receive up to $4 million in contingent consideration upon the achievement of certain regulatory and sales milestones.

The company also said that Agena Bioscience assumed certain liabilities related to the Bioscience business, which does not include any portion of Sequenom's bank debt or convertible notes outstanding. The facility lease for its Bioscience location in San Diego was also assumed by Agena Bioscience. All of the current Bioscience employees will be offered employment by Agena Bioscience.