Illumina has seen its stock price rise more than 12% following the acquisition of single-cell technology company, Fluent BioSciences, for an undisclosed amount.
Illumina’s overall stock price saw a sharp rise from $104 per share before the deal closure on 9 July, up to $118 per share after the company acquired Fluent BioSciences in a bid to gain access to its single-cell analysis technology which is designed to make the process more efficient.
Fluent’s latest version of its single-cell analysis device, PIPseq V, was released in May 2024, with the aim of cutting down the amount of time cell RNA Sequencing, a process that allows researchers to examine both known and novel features in a single assay. At the same time, the device is scalable, and capable of processing a range from 100 cells up to 1 million.
Speaking following the acquisition, Steven Barnard, chief technology officer of Illumina, said: “The addition of Fluent BioSciences to Illumina will provide significant and new capabilities to our customers in a key growth area and advances our multiomics growth strategy.
“Single-cell research opens doors to new areas of discovery, and Fluent’s innovative, accessible, and flexible single-cell method will accelerate our ability to deliver full multiomics solutions for our customers.”
Illumina plans to build on Fluent’s single-cell analysis technology. The acquisition follows after Illumina was forced to spin out Grail after objections from the European Union and US regulators leaving Illumina with only a 14.5% stake in the company.
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By GlobalDataBarnard added: “Our goal is to continue to develop the sequencing eco-system and support the best multiomics solutions like single-cell analysis. We want customers to have the flexibility to adopt the tools that best fit their needs.” Elsewhere in the field of RNA sequencing, Boston-based Foundation Medicine has started the commercial launch of its RNA sequencing test FoundationOne RNA in the US.
