Grífols acquires 20% of American multinational Singulex for $50 million

The Catalan company Grífols announced on Tuesday that they have purchased 20% of Singulex, the American multinational life science product provider based in Alameda, California. The acquisition was made after signing a capital increase worth $50 million, according to a statement given by Singulex to the National Securities Market Commission (CNMV). Singulex, which is valued ‘pre-money’ at $200 million, works in the field of diagnostic technology, such as technology used for screening blood and plasma donations, which could be used in the future to ensure the safety of transfusions and other similar procedures. The acquisition will not only grant Grífols a place on the American company´s board, but will also give the Catalan company access to the worldwide licence for the use and commercialisation of Singulex technology.

Products at the assembly line, at Grífols Plant in Ireland (by ACN)
Products at the assembly line, at Grífols Plant in Ireland (by ACN) / ACN

ACN

May 20, 2016 10:18 AM

Barcelona (CNA).- Grífols, the Catalan pharmaceutical company, announced on Tuesday morning that they have purchased 20% of the American multinational Singulex by signing a capital increase worth $50 million, according to a statement given by Singulex to the National Securities Market Commission (CNMV). Singulex is a life science product provider based in Alameda, California, which is valued (‘pre-money’) at $200 million. This acquisition will allow Grífols not only to be part of the board at Singulex but additionally to hold the worldwide licence for the use and commercialisation of Singulex technology. For example, diagnostic technology such as that used for screening blood and plasma donations in order to ensure the safety of transfusions and plasma products will be granted to Grífols. It is expected that the diagnostics division of the Catalan company will greatly benefit from this business and the relationship with Singulex, as Singulex is also responsible for various other technologies associated with clinical diagnosis and biological research, along with early diagnosis of cardiovascular disease. Currently, Singulex is developing an in vitro, fully automated diagnostic system which they aim to distribute worldwide. 


On Tuesday morning, the Catalan pharmaceutical company Grífols announced the acquisition of 20% of the American provider of life science products Singulex, after signing a capital increase worth $50 million, according to the multinational’s announcement to the National Securities Market Commission (CNMV). The ‘pre-money’ value of Singulex is $200 million. Following this transaction, Grífols will have a place on the board of the entity. Additionally, as part of this transaction, the exclusive worldwide licence for the use and commercialisation of Singulex technology has also been granted to the Catalan company. An example of what will become available to the Catalan company is the technology used for screening blood and plasma donations, allowing greater assurance in terms of the safety of transfusions and plasma products, according to a statement released by Grífols.

The headquarters of Singulex are in Alameda, California, and the multinational owns the ‘Single Molecule Counting’ technology, used for clinical diagnosis and biological research. This technology can detect biomarkers of diseases that previously could not be detected. Singulex is also developing an in vitro, fully automated diagnostic system that will allow the technology to be brought into hospitals and laboratories all around the world.

Singulex provides services to clinical laboratories of analysis for early detection of cardiovascular disease, and additionally sells immunoassay products. It is expected that with this transaction, the Grífols diagnostic division will be strengthened.