The shareholders of Stokes Bio Ltd have sold the company to Life Technologies Corp. for US$44 million.
Founded in 2005, Stokes Bio Ltd is an Irish company dedicated to the development and application of microfluidic technology, which helps to radically improve and enhance life sciences research and molecular diagnostics. The company was founded by Mark Davies and Tara Dalton based on technology developed by the Stokes Research Institute at the University of Limerick, and Kernel Capital Partners which was one of its main investors.
US-based Life Technologies Corp. is a global biotechnology tools company providing systems, consumables and services for scientific researchers around the world. Life Technologies is advancing scientific research in areas like academic research, drug discovery and development, toxicology and forensics, disease diagnostics, clinical cell therapy and regenerative medicine and biologics manufacturing.
Oaklins' team in Ireland assisted Stokes Bio Ltd in assessing its funding options and advised the company on the need to bring a larger strategic partner on board given its medium-term funding requirements. The Irish team subsequently approached a small number of potential strategic partners on behalf of the company and entered into exclusive sale discussions with Life Technologies Corp.
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