Invitrogen Corporation Launches Cell Therapy Business Unit
CARLSBAD, Calif. -- Invitrogen Corporation, a provider of essential life science technologies for research, production and diagnostics, today announced its further commitment to advancing the clinical cell therapy field by creating a new business unit within the company focused on the specific needs of that market.
The field of cell therapy offers great potential for new, novel therapies in fields as diverse as wound care, neurological and immune disorders, and cardiovascular diseases. Invitrogen's new Cell Therapy Systems business will be responsible for integrating relevant technologies including Dynal® magnetic beads for cell isolation, Gibco® cell expansion media and Molecular Probes® cell characterization tools to meet the needs of companies and researchers involved in developing cell therapies.
"Moving cell therapies through the research, clinical and commercial phases of development presents its own unique challenges, which Invitrogen is uniquely positioned to address," said Joydeep Goswami, Invitrogen's Vice President, Stem Cells and Regenerative Medicine. "We bring project management capabilities to the table, pulling together tools, reagents, and services from across the company to meet the specific needs of cell therapy companies. By offering integrated solutions, we can help accelerate the field toward groundbreaking therapies."
Invitrogen recently announced the acquisition of primary cell leaders, CellzDirect, Inc. and Cascade BiologicsTM. The company also recently announced a minority investment in Q Therapeutics, Inc., a biotechnology company pursuing cell therapeutic indications for the central nervous system, as one step in building expertise in the cell therapy arena. The investment increases the company's learning around the types of tools companies such as Q Therapeutics need to bring safe and effective cell therapies to market.
Invitrogen Corporation (NASDAQ:IVGN - News) provides products and services that support academic and government research institutions and pharmaceutical and biotech companies worldwide in their efforts to improve the human condition. The company provides essential life science technologies for disease research, drug discovery, and commercial bioproduction. Invitrogen's own research and development efforts are focused on breakthrough innovation in all major areas of biological discovery including functional genomics, proteomics, stem cells, cell therapy and cell biology -- placing Invitrogen's products in nearly every major laboratory in the world. Founded in 1987, Invitrogen is headquartered in Carlsbad, California, and conducts business in more than 70 countries around the world. The company employs approximately 4,700 scientists and other professionals and had revenues of approximately $1.3 billion in 2007. For more information, visit www.invitrogen.com.
Safe Harbor Statement
Certain statements contained in this press release are considered "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, and it is Invitrogen's intent that such statements be protected by the safe harbor created thereby. Forward-looking statements include, but are not limited to 1) Invitrogen can help accelerate the cell therapy field toward groundbreaking therapies. Potential risks and uncertainties include, but are not limited to; a) the risks that Invitrogen will not help accelerate the field of cell therapy, as well as other risks and uncertainties detailed from time to time in Invitrogen's Securities and Exchange Commission filings.