Life Technologies Completes Investment in Synthetic Genomics, Inc.
CARLSBAD, Calif., Jun 02, 2010 (BUSINESS WIRE) --Life Technologies Corporation (NASDAQ: LIFE), a provider of innovative life science solutions, announced today that it has made an equity investment in Synthetic Genomics, Inc. (SGI), a privately held company founded to commercialize synthetic genomic advances. Terms of the investment were not disclosed.
SGI and its founders are world leaders in the design and construction of synthetic genomes, where DNA can be assembled in the laboratory and used to create or modify cells and whole genomes. Synthetic biology can have applications across a number of fields, from the development of new sources of fuel, to products such as new vaccines that will improve human health.
While the initial business focus of SGI has centered on bioenergy, the company has now extended its focus to the areas of food production, clean water and vaccine development. One of SGI's main business programs is with Exxon Mobil Research and Engineering Group, a long term research and development alliance focused on finding and optimizing algae to efficiently produce biological crude oil replacements. The program utilizes both synthetic genome techniques as well as other more traditional metabolic engineering techniques. SGI was founded by Dr. J. Craig Venter and Nobel Laureate Hamilton Smith.
"SGI is a true leader in the field of synthetic biology, not only for its innovative approaches in the laboratory, but also for its ability to help industry convert that research into meaningful solutions for some of society's greatest challenges," said Gregory T. Lucier, Chairman and Chief Executive Officer of Life Technologies. "We look forward to working more closely with Craig, Hamilton and their team, and sharing Life Technologies' expertise, to accelerate progress in this critical new field of research."
"Given the breadth of business areas that Life Technologies covers and their leadership position in the life sciences space, we are extremely pleased to have the company as an investor in SGI," said Dr. Venter. "We look forward to working with Greg and the Life Technologies team to explore and optimize the synergies of our two companies."
About Life Technologies (http://www.lifetechnologies.com)
Life Technologies Corporation (NASDAQ: LIFE) is a global biotechnology tools company dedicated to improving the human condition. Our systems, consumables and services enable researchers to accelerate scientific exploration, driving to discoveries and developments that make life even better. Life Technologies customers do their work across the biological spectrum, working to advance personalized medicine, regenerative science, molecular diagnostics, agricultural and environmental research, and 21st century forensics. Life Technologies had sales of $3.3 billion in 2009, employs approximately 9,000 people, has a presence in approximately 160 countries, and possesses a rapidly growing intellectual property estate of approximately 3,900 patents and exclusive licenses. Life Technologies was created by the combination of Invitrogen Corporation and Applied Biosystems Inc., and manufactures both in-vitro diagnostic products and research use only-labeled products. For more information on how we are making a difference,
please visit our website: http://www.lifetechnologies.com.
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