908 Devices, a pioneer of purpose-built handheld and desktop mass spec devices for chemical and biomolecular analysis, announces that it has completed the acquisition of privately-held TRACE Analytics GmbH, based in Braunschweig, Germany, a provider of on-line analysis and sampling systems for biotech applications. 908 Devices expects the acquired technology to enable its mass spec devices as on-line bioprocess monitors.
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“The addition of TRACE Analytics enables us to take a measurable step forward in our goal to build a connected and comprehensive bioanalytics platform”
Founded in 2003, TRACE Analytics develops on-line aseptic sampling systems and novel biosensors for bioreactor monitoring and control. Their validated technology, in single-use and reusable configurations, is applied in mammalian cell culture and microbial fermentations at all levels of the bioprocess chain, from research and development to large scale production.
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“The addition of TRACE Analytics enables us to take a measurable step forward in our goal to build a connected and comprehensive bioanalytics platform,” said Dr. Kevin J. Knopp, CEO and Co-founder of 908 Devices. “We are excited to have the TRACE Analytics team join us as we work together to meet the needs of our customers with on-line devices that provide actionable insights and enable Bioprocessing 4.0.”
“Our focus has been to develop robust and easy to maintain devices for bioprocess monitoring and control,” said Dr. Wolfgang Künnecke, founder of TRACE Analytics. “We feel a strong affinity with 908 Devices, and we look forward to working together to develop innovative on-line analyzers.”
The purchase consideration includes an initial cash payment of $15.3 million and up to an additional $2.0 million of contingent cash consideration upon the achievement of certain milestones over the next two years.
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