Palo Alto – June 20, 2014 – Cooley LLP announced today that it is advising ProteinSimple on its sale to Techne Corporation (d/b/a Bio-Techne) for $300 million. ProteinSimple develops and commercializes proprietary systems and consumables for protein analysis that ultimately help reveal new insights into the true nature of proteins. Techne Corporation is a global life sciences company providing innovative bioactive tools and resources for the research and clinical diagnostic communities.
The transaction is subject to the satisfaction of customary closing conditions and will be financed through a combination of cash on hand and a new revolving line of credit facility that Bio-Techne expects to obtain prior to the closing of the acquisition.
The Cooley corporate team advising ProteinSimple was led by partner and head of Cooley's medical device practice Mark Weeks and partners Sally Kay and Jamie Leigh, and included special counsel Brian Wheeler and associates James Allee and Sepideh Mousakhani. Critical support for the transaction was provided by partner Mark Windfeld-Hansen and associate Todd Gluth (tax); partner Renee Deming and special counsel Laura McDaniels (compensation & benefits); partner Erik Milch (intellectual property); partner Natasha Leskovsek (regulatory); partner Francis Fryscak (antitrust); and partner Danish Hamid and associate Rebecca Ross (international trade).
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