Standard BioTools Sells Mass Cytometry Business Amid Pending Merger With Treeline Biosciences
Standard BioTools (LAB) said Tuesday that it has agreed to sell its Mass Cytometry business to Multiplex Bio as part of efforts to advance its previously announced merger with Treeline Biosciences.The Mass Cytometry deal is valued at up to $10 million, consisting of a seller's note issued by Multiplex Bio and a potential milestone payment, Standard BioTools said, adding it has also agreed to provide Multiplex Bio with a working capital loan of up to $10 million at closing of the transaction.Additionally, Standard BioTools said it received $30 million as a buyout of the 2026 earnout and all accrued and unpaid royalty payments related to Illumina's (ILMN) previously completed acquisition of Standard BioTools' SomaLogic business. The payment will be included in Standard BioTools' pro forma net cash position at closing of the Treeline transaction, the company said.Standard BioTools also said it expects the Treeline transaction to close by the end of 2026 and that the US Federal Trade Commission has provided early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.
