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Roche tender offer for Illumina, Inc: $44.50 per share in cash

27-01-2012. Roche announced today that it has commenced a cash tender offer to acquire all outstanding shares of Illumina, Inc. (NASDAQ: ILMN). The offer and withdrawal rights are scheduled to expire at 12:00 midnight, New York City time, at the end of the day on February 24, 2012, unless the offer is extended. Under the terms of the offer, Roche is offering to acquire Illumina for $44.50 per share in cash, or an aggregate of approximately $5.7 billion on a fully diluted basis. This offer represents a premium of 64% over Illumina’s closing stock price on December 21, 2011 – the day before market rumors about a potential transaction between Roche and Illumina drove Illumina’s stock price significantly higher – a 61% premium over the one-month historical average and a 43% premium over the three-month historical average of Illumina’s share price, both as of December 21.


Roche’s offer is conditional upon, among other things, (i) the tender by Illumina’s stockholders prior to the expiration of the tender offer of a number of shares, which, together with the shares owned by Roche, represents at least a majority of the total number of shares outstanding on a fully diluted basis, (ii) the redemption of the preferred stock purchase rights associated with the shares or Roche’s satisfaction in its reasonable discretion that such rights have been invalidated or are otherwise inapplicable to the tender offer and the proposed merger, (iii) Roche’s satisfaction that the anti-takeover provisions of the Delaware General Corporation Law are inapplicable to the proposed merger and (iv) Illumina must not have entered into or effectuated any agreement or transaction with any person or entity having the effect of impairing Roche’s ability to acquire Illumina or otherwise diminishing the expected value to Roche of the acquisition of Illumina. If following the consummation of the offer Roche owns at least a majority of the outstanding

Source: Roche

 

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Dynamic Devices: Seyonic Partnership

30-012011. Dynamic Devices announces the strategic partnership with Seyonic SA of Neuchâtel, Switzerland. With the implementation of Seyonic's Senor Controlled Pipetting (SCP) independent tips as the pipetting base for Dynamic Devices i8 VVP Independent Tip Arm and the new co-development and exclusive distribution of the 96 VVP Independent Volume Head the first air based validated pipetting will be offered in a flexible automation liquid handling robot platform for the Life Science Industry.
Seyonic SA specializes in microsystem technology for measurement and control in laboratory instrumentation. Their core competency is accurate small volume liquid handling in the sub-microliter range. Seyonic develops applications, manufactures components, and assembles and tests OEM instrument sub-systems.  Seyonic was founded in 1998 and is based in Neuchâtel, Switzerland. The company is a spin-off from the Institute of Microtechnology at the University of Neuchâtel.  From thier roots in the silicon wafer industry, the flow sensor pipetting technology was developed for the life science industry out of a need to accurately aspirate and dispense nanoliter amounts of liquid.  
Dynamic Devices is a premier provider of liquid handling robots and lab automation solutions to the life science industry.  We are a recognized leader in motion control, liquid handling, microarray nano technology, high speed rapid prototyping and application development.  With the implementation of  Volume Verified Pipetting (VVP) and combinations of standard liquid handling platforms and custom integration services we deliver complete customer solutions

Source: Dynamic Devices
 

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An note on Dynamic Devices


by B2Bioworld Editor: 

 

Dynamic Devices LLC operates on the premises of Zymark Corporation at Wilmington which was acquired by Caliper Life Sciences and sold to SOTAX Corporation a fully owned subsidiary of Swiss Sotax Holding AG, a manufacturer of pharmaceutical testing machinery including liquid handling applications.

 

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Dangerous Starting Signal for Intestinal Stem Cells

Drosophila gutJanuary 13, 2011. The mucosal lining of the intestine is renewed every two to five days. In this process, stem cells in the intestine replace cells of the gut epithelium which have been lost due to injury or normal wear and tear by new cells. Scientists of the German Cancer Research Center (Deutsches Krebsforschungszentrum, DKFZ) and Heidelberg University have now discovered, jointly with colleagues of the Fred Hutchinson Cancer Research Center in Seattle, that the cellular EGFR signaling pathway plays an important role in this process: It stimulates stem cells to divide so that their daughter cells replace the damaged intestinal epithelium. This signaling pathway may also be involved in the onset of human intestinal cancer.

“For the intestinal epithelium to be able to renew itself dynamically, the stem cells of the intestine need to respond to the needs of the intestinal tissue,” says Professor Bruce Edgar, who has a bridging professorship within the alliance of DKFZ and the Center for Molecular Biology (ZMBH) of Heidelberg University. “They may divide and produce new intestinal cells only to the extent in which cells of the intestinal epithelium are dying. But how the stem cells are activated has been largely unknown so far.” The investigators have used the fruit fly Drosophila for their experiments. This insect regularly renews its intestinal epithelium with the aid of stem cells, just like man. The researchers used genetic methods to induce death of cells of the intestinal lining or fed the toxic bacterium Pseudomonas entomophila to the animals. In this way, they specifically induced self-renewal of the intestinal epithelium. The gut lining cells under attack produced an increased amount of mediator substances which activate the epidermal growth factor receptor, or EGFR for short. There was a parallel increase in the activity of the cellular EGFR signaling pathway in the intestinal stem cells. Further experiments showed that the EGFR signaling pathway activates the stem cells using the mediators Ras, RAF und MAPK. These molecules cause the stem cells to divide and to renew the damaged intestine. “Our results show that the EGFR/Ras/MAPK signaling pathway plays a key role in the renewal and regeneration of the intestine,” summarizes Bruce Edgar. However, this signaling pathway may also be involved in intestinal cancer. “There is mounting evidence suggesting that the signaling pathway is also activated when intestinal polyps arise,” Edgar added. Such polyps tend to turn into malignant intestinal cancer. “In intestinal cancer cells, the two signaling molecules Ras and BRAF, which are also part of the EGFR signaling pathway, are often hyperactive. However, the exact function of the EGFR signaling pathway in the onset of cancer is not yet understood,” emphasized Edgar. But there already are drugs, so-called antibodies, which are directed against EGFR and which are used, with good results, for treating intestinal cancer.

In a next step, the investigators are now planning to uncover how the EGFR signaling pathway is switched on in stem cells, in order to understand exactly what it is that causes stem cells to replace lost tissue. Biologist and cancer researcher Bruce Edgar has recently been awarded a European Research Council Advanced Grant of 2.6 million euros for his work.

Press Release DKFZ

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