Life Technologies buys cancer bioinformatics outfit

Life Technologies, a major provider of DNA sequencers and research technology, has scooped up Compendia Bioscience in an acquisition of the cancer bioinformatics company. The Carlsbad, CA-based buyer ($LIFE) has struck the deal as it aims to join forces with pharma companies to develop companion diagnostics. Ann Arbor, MI-based Compendia, a spinoff from the University of Michigan, provides its cancer bioinformatics tool Oncomine to pharma outfits, which use the tool to spot gene targets for cancer drug development. Life Technologies, which plans to keep Compendia operating with its existing management, wants to develop a clinical version of Oncomine to assist doctors in matching patients with personalized treatments. It said in a press release that financial terms of the deal aren't being disclosed. Release