Standard BioTools Inc. (LAB) has entered into a definitive agreement to sell its mass cytometry business to Element Biosystems, LLC, a subsidiary of GMT Venture Partners, LLC, for $5.5 million in cash. This transaction follows the termination of a prior agreement with Multiplex Bio Inc. after Standard BioTools' board of directors determined it had received a "Business Superior Proposal" from GMT Venture.
Key Details
- New Agreement: On September 30, 2026, the company entered into a Share and Asset Purchase Agreement with Element Biosystems, LLC for the sale of its mass cytometry business.
- Purchase Price: The aggregate purchase price for the transaction is $5.5 million in cash, on a cash-free and debt-free basis.
- Prior Agreement Termination: The company terminated its July 28, 2026, agreement to sell the business to Multiplex Bio Inc. and agreed to pay a $1.5 million termination fee. GMT Venture will contribute $1.0 million towards this fee on Standard BioTools' behalf.
- Closing Conditions: The sale is subject to customary closing conditions, including approval by Standard BioTools' stockholders and the consummation of the company's pending merger with Treeline Biosciences, Inc.