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Bruker announced that the German Federal Patent Court ruled in favor of NanoString Technologies Germany GmbH by invalidating a patent asserted by 10x Genomics in Germany. This legal win allows NanoString, now a Bruker business, to seek an end to the injunction impacting sales of CosMx SMI products in Germany. The ruling is a significant victory for NanoString and Bruker, enabling a re-leveling of the playing field in the research tools industry in Germany.
Bruker has completed the acquisition of NanoString Technologies, Inc., for approximately $392.6 million, acquiring assets such as nCounter®, GeoMx®, CosMx™, and AtoMx™ product lines. The acquisition aims to enhance gene expression analysis and spatial transcriptomics for research purposes. NanoString generated revenues of $168 million in 2023 and has been important in supporting discovery, translational, and pre-clinical disease research with over 7,000 publications.
Bruker has completed the acquisition of ELITechGroup for €870 million in cash, excluding the clinical chemistry business, becoming a leading infectious disease specialist in the in-vitro diagnostics market. ELITech offers innovative sample-to-answer systems and assays for molecular diagnostics, with FY 2023 revenue of approximately EUR 150 million.
Bruker (BRKR) reported strong Q1 2024 financial results with revenues of $721.7 million, up 5.3% yoy. GAAP EPS was $0.35, non-GAAP EPS $0.53. FY 2024 guidance raised to $3.29-$3.35 billion, implying 11%-13% yoy growth. Acquisition of ELITech expected to boost revenue and EPS.
