Cell Biosciences Raises $19 Million, Agrees To Buy Alpha Innotech
Cell Biosciences, a Palo Alto, Calif.-based provider of nanoproteomic analysis systems to life science researchers, has agreed to acquire Alpha Innotech Corp. (OTC BB: APNO). The deal is valued at approximately $17.9 million in cash, or $1.50 per Innotech share. Cell Biosciences also announced that it has raised $19 million in new capital, via a second tranche of Series C funding and a Series D round. This brings its total funding to around $60 million, from firms like The Wellcome Trust, Domain Associates, Latterell Venture Partners, Novo A/S, Mitsui Ventures, Royal Bank of Canada and The Vertical Group. Alpha Innotech still lists several VC shareholders, following its 2005 reverse merger with Xtrana. They include BioAsia Management Investment and ETP/FBR Venture Capital.
