Under the terms of the deal, Quest had purchased 6.2 million shares of Ciphergen stock for $15 million, amounting to about a 17% stake in the company. Quest will also have a 5-year warrant to purchase an additional 2.2 million shares at $3.50 apiece, and will be lending Ciphergen up to $10 million for development purposes
Ciphergen jumps on Quest deal - Biotechnology - Company Announcements
BioBOOM Op/Ed Talk all you want about potential for proteomics in diagnostics. That's been around for years - what do you think ELISA or aging agglutination tests are based on? This is simply Ciphergen's angel for an exit strategy, we think, as they clearly were on shaky legs and running out of funds.
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