
Bruker Corporation Completes Acquisition of PhenomeX
Bruker Corporation (Nasdaq: BRKR) has successfully finalized its acquisition of PhenomeX, a leading provider of single-cell biology research tools, for a total cash consideration of $108 million. This acquisition was announced by Bruker on August 17, 2023, and is in line with the company’s desire to expand its capabilities in the field of functional single-cell biology.
PhenomeX is known for its single-cell biology research tools, enabling in-depth exploration of cellular function and providing insights into phenomes and genotype-to-phenotype connections. A key highlight of PhenomeX’s offerings is the Beacon® line of Optofluidic systems. These systems allow researchers to expedite biologics product development by characterizing tens of thousands of individual cells simultaneously, all while preserving the cells in a healthy state for subsequent genomic and proteomic profiling. This capability facilitates the linkage of phenotype with genotype and other multiomic information. Furthermore, PhenomeX augments its Beacon product line with the IsoSpark and IsoLight systems, designed for highly multiplexed single-cell proteomic characterization.
Dr. Mark R. Munch, President of the Bruker NANO Group, expressed enthusiasm about this strategic move, stating, “We are excited to welcome PhenomeX to Bruker. PhenomeX’s differentiated research tools are highly valued by customers in the attractive growth markets of antibody development, cell line development, cell and gene therapy, and many more. Additionally, PhenomeX’s platforms are highly complementary to our existing cellular and sub-cellular analysis tools, including our high-performance CellScape™ spatial biology platform.”
Bruker anticipates that it will optimize PhenomeX’s cost structure now that the deal has closed. The company expects the acquisition to have a minor dilutive effect on Bruker’s non-GAAP EPS in 2024 and 2025, with a subsequent accretive impact on Bruker’s non-GAAP EPS commencing in 2026. During its Q3 2023 earnings release, Bruker will provide further details regarding the expected influence of the PhenomeX acquisition in Q4 2023. Bruker also reaffirmed its medium-term financial outlook which was outlined at its investor day in June 2023, where the company guided to 2023-2026 revenue growth of 6-8% and non-GAAP EPS growth of 10-13% over the same period. At the investor day the company also laid out its strategy for focusing on proteomics and spatial genomics, which this acquisition supports.