Invitrogen, a maker of tools used to develop biotechnology drugs, agreed to buy life sciences company BioSource International for $130 million in cash, the companies said on Tuesday. Invitrogen said the deal bolsters its research capabilities and allows it to enter new markets in immunology, oncology and neurodegenerative disease.
"The acquisition of BioSource enables our company to continue its growth in the vital area of proteomics," said Gregory T. Lucier, chairman and CEO of Invitrogen. "Moreover, the potential combination of BioSource's strength in technology development and our leading brand positions us to achieve an important goal of developing a collection of disease specific tools."
- read this AP report [1] for more
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[1] http://www.businessweek.com/ap/financialnews/D8BJ56SO2.htm?campaign_id=apn_home_down&chan=db