Singular Genomics Announces Closing of Acquisition by Deerfield Management

Core Viewpoint - Singular Genomics Systems, Inc. has been acquired by an affiliate of Deerfield Management Company, L.P., transitioning to a private company to enhance its business strategy and operational flexibility [1][3]. Company Overview - Singular Genomics is a life science technology company focused on next-generation sequencing (NGS) and multiomics technologies, with products like the G4 Sequencing Platform and the upcoming G4X™ Spatial Sequencer [6]. - The G4 Sequencing Platform is designed for fast and accurate genomic sequencing, while the G4X™ Spatial Sequencer aims to provide in situ readouts for various biological analyses [6]. Acquisition Details - The acquisition agreement was signed on December 23, 2024, with Deerfield agreeing to purchase all outstanding shares of Singular Genomics common stock at $20.00 per share in cash [2]. - The transaction was approved by Singular Genomics' shareholders on February 19, 2025, and officially closed shortly thereafter [3]. - Following the acquisition, Singular Genomics' common stock has been suspended from trading on Nasdaq, and the company has requested delisting [3]. Leadership Changes - Josh Stahl has been appointed as the new Chief Executive Officer of Singular Genomics and will join the Board of Directors, alongside Jason Myers [4]. - Drew Spaventa, the co-founder and former CEO, will remain on the Board and take on the role of special advisor to the CEO [4]. Strategic Direction - Deerfield's involvement is expected to support Singular Genomics in advancing its technology and business direction, enhancing its capabilities in providing critical sequencing and multiomics information to healthcare professionals [5].