IsoPlexis Corp.

PhenomeX offers single-cell biology research tools for delivering insights into cellular function. Credit: Arek Socha from Pixabay. Bruker has entered a definitive agreement to acquire functional cell biology company PhenomeX for a total equity value of $108m. The company will initiate a tender offer to purchase all of PhenomeX’s outstanding shares for $1.00 per share, payable in cash. Recommended Reports Reports Head and Neck Squamous Cell Carcinoma - Global Drug Forecast and Market Analysis to 2030 GlobalData Reports LOA and PTSR Model - IO-108 in Merkel Cell Carcinoma GlobalData View all Companies Intelligence Bruker Corp PhenomeX Inc IsoPlexis Corp View all PhenomeX offers single-cell biology research tools for delivering insights into cellular function and new perspectives on phenomes and genotype-to-phenotype linkages. PhenomeX was established at the start of 2023 by a merger between Berkeley Lights and IsoPlexis. The company now has more than 400 instruments installed. PhenomeX CEO and director Siddhartha Kadia stated: “By joining forces with Bruker, a respected and innovative global leader in life science research tools, we will not only enhance PhenomeX’s differentiated, high-value technologies but also our customers’ abilities to discover novel antibodies and accelerate development and manufacturing of cell and gene therapies.” PhenomeX delivers biology workflows with software, instruments and molecular biology reagents. Its product portfolio consists of the IsoLight and IsoSpark proteomics barcoding platforms, as well as the Beacon Optofluidic platform. The Beacon Optofluidic system enables researchers to advance biologics product development by concurrently characterising numerous individual cells. The IsoLight and IsoSpark instruments simplify the automated measurement of both the extracellular and intracellular proteomes of single cells, supporting translational research efforts. Bruker NANO Group president Dr Mark Munch stated: “The unique single-cell analysis platforms of PhenomeX are enabling researchers to more rapidly and precisely unlock new insights in functional cell biology research leading to important discoveries across the large and rapidly growing markets of antibody therapeutics, cell line development, cell therapy and gene therapy.” The deal is anticipated to be completed in the fourth quarter of 2023. Cell & Gene Therapy coverage on Pharmaceutical Technology is supported by Cytiva. Editorial content is independently produced and follows the highest standards of journalistic integrity. Topic sponsors are not involved in the creation of editorial content. Free Whitepaper Cell and gene therapies: Pipe dream to pipeline The cell and gene industry is gaining momentum, with a new wave of therapies promising to transform the way doctors treat, and even cure, disease. In this report, Cytiva and GlobalData have collaborated to explore the rise of the cell and gene therapy industries, the current state of the market, present and future opportunities for advancement, and the challenges that lie ahead. By Cytiva Thematic By downloading this case study, you acknowledge that GlobalData may share your information with Cytiva Thematic and that your personal data will be used as described in their Privacy Policy

Company provides full year 2023 financial guidance EMERYVILLE, Calif., May 11, 2023 /PRNewswire/ -- PhenomeX, Inc. (Nasdaq: CELL), a life sciences tools company, today reported financial results for the first quarter ended March 31, 2023. Following the completion of Berkeley Lights' acquisition of IsoPlexis on March 21, 2023, the newly combined company was rebranded as PhenomeX and is positioned to be the leading provider of life sciences solutions that have the greatest impact in advancing the era of the phenome as the next revolution in biology and medicine unfolds. Its brand reflects the Company's mission to empower scientists to leverage the full potential of each cell and drive the next era of functional cell biology that will advance human health. Recent Highlights Achieved total revenue of $18.5 million for the first quarter 2023, including: $11.3 million in platform and recurring revenue, including $1.0 million in revenue from IsoPlexis following the closing of the acquisition on March 21, 2023; 8 platform placements, bringing the PhenomeX installed base to 430 platforms; and $7.2 million in partnership, license, and other revenue Accelerated actions towards acquisition-related cost reductions and achieved more than $70 million dollars in run-rate synergies to date Strengthened commercial team with appointments of Dr. Yan Zhang as chief commercial officer and Tomoya Aoyama as regional leader of commercial operations in APAC region Launched Opto® T Cell Profiling workflow, enabling increased efficiency and high precision T cell characterization for development of efficacious immunotherapies, with data featured at American Association for Cancer Research Annual Meeting in April Appointed Peter Silvester, veteran life sciences executive and previous senior vice president, and president of Life Sciences Solutions at Thermo Fisher Scientific, to the PhenomeX Board of Directors "I'm pleased with the progress we are making at PhenomeX, following the successful combination of Berkeley Lights and IsoPlexis. We accelerated our integration initiatives and have already achieved more than $70 million in run-rate cost synergies to support our goal of becoming cash flow positive by the fourth quarter of 2024," said Siddhartha Kadia, Ph.D., chief executive officer of PhenomeX. "In addition, we have strengthened our commercial leadership, launched our new multi-omics T Cell Profiling workflow, and will introduce a series of highly differentiated, market-segment driven product offerings as part of our combined technology roadmap." 2023 Guidance Outlook PhenomeX expects full year 2023 revenue to be in the range of $75 to $85 million dollars with a gross margin target of approximately 65%. Webcast and Conference Call Information PhenomeX will host a conference call to discuss the first quarter 2023 financial results after market close on Thursday, May 11, 2023 at 1:30 p.m. Pacific Time/4:30 p.m. Eastern Time. A webcast of the conference call can be accessed at . The webcast will be archived and available for replay for at least 90 days after the event. About PhenomeX PhenomeX is empowering scientists to leverage the full potential of each cell and drive the next era of functional cell biology that will advance human health. We enable scientists to reveal the most complete insights on cell function and obtain a full view of the behavior of each cell. Our unique suite of proven high-throughput tools and services offer unparalleled resolution and speed, accelerating the insights that are key to advancing discoveries that can profoundly improve the prevention and treatment of disease. Our award-winning platforms are used by researchers across the globe, including those at the top 15 global pharmaceutical companies and approximately 85% of leading U.S. comprehensive cancer centers. Forward Looking Statements This press release contains forward-looking statements that are based on management's beliefs and assumptions and on information currently available to management. All statements contained in this release other than statements of historical fact are forward-looking statements, including statements regarding expectations of future operating results or financial performance, our guidance for the full year 2023, expectations regarding acquisition-cost reductions and estimated cost synergies as a result of our acquisition of IsoPlexis, management's estimates and expectations regarding growth of our business and market, including statements regarding the Company's ability and timing to achieve cash flow breakeven and introduce new product offerings and other matters regarding our business strategies, use of capital, results of operations and financial position, and plans and objectives for future operations. In some cases, you can identify forward-looking statements by the words "may," "will," "could," "would," "should," "expect," "intend," "plan," "anticipate," "believe," "estimate," "predict," "project," "potential," "continue," "target," "ongoing" or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. These statements involve risks, uncertainties and other factors that may cause actual results, levels of activity, performance, or achievements to be materially different from the information expressed or implied by these forward-looking statements. There are a significant number of factors that could cause our actual results to differ materially from statements made in this press release, including: our ability to successfully integrate the businesses and operations of Berkeley Lights and IsoPlexis; our ability to raise additional capital; our ability to attract new and retain existing customers, or renew and expand our relationships with them; the failure to timely develop and achieve market acceptance of new products and services as well as existing products and services offerings; our limited operating history; our history of losses since inception; and general market, political, economic, and business conditions, including those related to the continuing impact of COVID-19 and geopolitical uncertainty. Additional risks and uncertainties are described under "Risk Factors," "Management's Discussion and Analysis of Financial Condition and Results of Operations" and elsewhere in the documents we file with the Securities and Exchange Commission from time to time. We caution you that forward-looking statements are based on a combination of facts and factors currently known by us and our projections of the future, about which we cannot be certain. As a result, the forward-looking statements may not prove to be accurate. The forward-looking statements in this press release represent our views as of the date hereof. We undertake no obligation to update any forward-looking statements for any reason, except as required by law. SOURCE PhenomeX

EMERYVILLE, Calif., March 21, 2023 /PRNewswire/ -- Berkeley Lights, Inc. (Nasdaq: BLI), a life sciences tools company, today announced that it has completed its previously announced acquisition of IsoPlexis Corporation (Nasdaq: ISO), a company empowering labs to leverage the cells and proteome changing the course of human health. The newly combined company has been renamed PhenomeX and its common stock will begin trading on Nasdaq under the ticker symbol "CELL" at market open tomorrow. PhenomeX is positioned to be the leading provider of life sciences solutions that have the greatest impact advancing the era of the phenome as the next revolution in biology and medicine unfolds. Its brand reflects the Company's mission to empower scientists to leverage the full potential of each cell and drive the next era of functional cell biology that will advance human health. The new company aims to offer a compelling value proposition to customers, partners, and shareholders by: The successful combination of Berkeley Lights and IsoPlexis lays the foundation for a financially strong life sciences tools company. In 2022, the two companies generated combined revenues of approximately $95 million, and the new company now has an installed instrument base of more than 400 units, including those placed with each of the top 15 pharmaceutical companies and approximately 85% of comprehensive cancer centers in the United States. PhenomeX will have a global commercial footprint with more than 100 talented customer-facing employees. This increased commercial footprint will vastly strengthen its ability to reach academic, biopharma and CRO companies across all geographies with an accelerated product roadmap. PhenomeX will also be significantly advantaged by an expansive intellectual property estate of more than 600 patents, giving the new company an edge unmatched by its competitors in the market. "Today begins a new chapter as we bring together two industry pioneers focused on empowering researchers to make breakthrough discoveries by leveraging the full potential of functional cell biology," said Siddhartha Kadia, Ph.D., chief executive officer of PhenomeX. "As PhenomeX, we intend to continue our transformation into a growing and sustainable life sciences company and advance our path to profitability by accelerating our progress across every core pillar of our strategic plan. I look forward to working closely with our team to capture the significant opportunities we see ahead to power the next revolution in science and medicine while delivering value for our shareholders." Share Distribution Under the terms of the merger agreement entered into on December 21, 2022, IsoPlexis shareholders received, for each share of IsoPlexis stock, 0.612 shares of Berkeley Lights common stock (which will be automatically converted into shares of PhenomeX common stock). With the transaction complete, former Berkeley Lights and IsoPlexis shareholders own approximately 75.2 percent and 24.8 percent of the combined company, respectively. Advisors Cowen is acting as financial advisor to Berkeley Lights, and Freshfields Bruckhaus Deringer LLP is serving as legal counsel. Evercore is serving as financial advisor to IsoPlexis and Cravath, Swaine & Moore LLP is serving as legal counsel. About PhenomeX Inc. PhenomeX is empowering scientists to leverage the full potential of each cell and drive the next era of functional cell biology that will advance human health. We enable scientists to reveal the most complete insights on cell function and obtain a full view of the behavior of each cell. Our unique suite of proven high-throughput tools and services offer unparalleled resolution and speed, accelerating the insights that are key to advancing discoveries that can profoundly improve the prevention and treatment of disease. Our award-winning platforms are used by researchers across the globe, including those at the top 15 global pharmaceutical companies and approximately 85% of leading U.S. comprehensive cancer centers. Forward-Looking Statements This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Such forward-looking statements are based on the Company's beliefs and assumptions and on information currently available to it on the date of this press release. In some cases, you can identify forward-looking statements by the words "aim," "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "ongoing," "plan," "positioned," "potential," "predict," "project," "should," "will," "would" or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. All statements contained in this release that are not statements of historical fact are forward-looking statements, including but not limited to statements regarding expected benefits from the merger with IsoPlexis, including anticipated cost synergies and the brand and positioning of the combined company; our ability to achieve profitability and breakeven; our ability to generate shareholder value; the capabilities and attractiveness of our platform; our ability to retain key personnel; market opportunities and anticipated growth in the markets we serve; our ability to grow market share, expand our customer base and generate recurring revenue; our ability to expand our product portfolio; and the sustainability of our business. Forward-looking statements may involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements to be materially different from those expressed or implied by the forward-looking statements. There are a significant number of factors that could cause our actual results to differ materially from statements made in this press release, including but not limited to [the effect of the merger with IsoPlexis on various aspects of our ongoing business operations, including employees, distributors, customers and suppliers; the possibility that expected synergies and operating efficiencies in connection with the merger may not be achieved within the expected timeframes or at all; the risk that integration of IsoPlexis' operations into those of the combined company may be more difficult, time-consuming or costly than expected; the possibility that our expectations as to cost synergies, expenses, cash usage and cash needs may prove not to be correct; the impacts of changes in general economic and business conditions, including changes in the financial markets; potential challenges in the implementation of strategic plans for products and technologies, and challenges inherent in developing, manufacturing, launching, marketing and selling existing and new products; uncertainties in contractual relationships, including interruptions or delays in the supply of components or materials for, or manufacturing of, products; and the additional risks and uncertainties discussed in each of Berkeley Lights' and IsoPlexis' filings with the SEC, including Berkeley Lights' and IsoPlexis' Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Except to the extent required by law, we undertake no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.