Life Technologies Signs Definitive Agreement to Acquire BioTroveAcquisition enhances company's strategic offerings in high growth PCR market
CARLSBAD, Calif.--(BUSINESS WIRE)--Nov. 10, 2009-- Life Technologies Corporation (NASDAQ:LIFE), a provider of innovative life science solutions, today announced that it has signed a definitive agreement to acquire BioTrove, Inc. for an undisclosed amount.
BioTrove's primary technology is the OpenArray® platform, a high throughput gene expression and genotyping analysis system based on a flexible array format that enables researchers to perform more than 3,000 PCR genotyping or qPCR gene expression assays at a time.
The increased adoption of next generation sequencing platforms, such as the SOLiDTM System, has generated greater use of qPCR for simultaneous validation of an increased number of gene targets. The OpenArray® platform has the flexibility to allow for samples to be validated against a large target panel, or a larger quantity of samples to be screened against select validated targets. The technology is also used in applied markets, such as pathogen testing, and may enable future digital PCR applications.
"BioTrove's technology is an important addition to our extensive PCR portfolio," said Greg Lucier, Chairman and Chief Executive Officer of Life Technologies. "This acquisition and other enhancements recently made to our PCR offerings enable us to remain the leader in this space, and exemplify how Life Technologies is setting new technology standards in areas important to the company's future growth."
With the OpenArray® platform, Life Technologies and its Applied Biosystems subsidiary will be able to provide greater assay content in a higher density format. Applied Biosystems currently offers an expansive inventory of gold standard TaqMan® assays, more than 1.1 million for gene expression and 4.5 million for genotyping applications. Both customer-specified and pre-defined panels of TaqMan® assays will be available for the OpenArray® platform under the Applied Biosystems brand. The format requires no additional investment by customers in costly liquid handling automation.
This acquisition builds on a collaboration that Applied Biosystems entered into with BioTrove in 2007. At that time, Applied Biosystems assumed responsibility for commercialization of the OpenArray® business for genotyping applications.
Life Technologies has made a number of announcements related to its PCR business in recent months. In September, the company launched the MeltDoctorTM High-Resolution Melt Reagents, for research use only, as part of a PCR-based workflow that enables researchers to scan DNA from a variety of biological sample types to detect the smallest genetic variations. It also announced that it has purchased Cytonix Corporation for intellectual property related to digital PCR technology. In April, the FDA issued an Emergency Use Authorization letter to the U.S. Centers for Disease Control and Prevention (CDC), allowing qualified laboratories to run the CDC's H1N1 detection assay on an Applied Biosystems 7500 Fast Dx Real-Time PCR Instrument or the 7500 Fast Real-Time PCR Instrument.
"The combination of BioTrove's OpenArray® technology with Life Technologies' comprehensive line of assay products is a perfect match," said Al Luderer, Ph.D., President and Chief Executive Officer of BioTrove. "The two companies have already established a fruitful relationship based on our 2007 collaboration agreement. This acquisition will allow Life Technologies to build on those synergies and offer our customers even greater choice and flexibility in their gene expression and genotyping workflows."
The transaction is subject to customary closing conditions. Life Technologies does not expect this transaction to have a material effect on its financials in fiscal year 2009.
About Life Technologies (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 more than $3 billion in 2008, employs approximately 9,500 people, has a presence in more than 100 countries, and possesses a rapidly growing intellectual property estate of approximately 3,600 patents and exclusive licenses. Life Technologies was created by the combination of Invitrogen Corporation and Applied Biosystems Inc. For more information on how we are making a difference, please visit our website: www.lifetechnologies.com.
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TaqMan® is a registered trademark of Roche Molecular Systems, Inc.