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news.Invitrogen Corporation has signed a definitive agreement to acquire private antibody manufacturer Zymed Laboratories for $60 million. Zymed has more than 2,000 antibodies and related products in key areas of Invitrogen's focus, including cancer, neurological and infectious diseases.
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Zymed produces pathology products, cancer and cell biology reagents and biomarkers, and general immunochemical reagents for the life science research and clinical diagnostics markets. Its antibody collection is complementary to many areas of Invitrogen’s business including proteomics, stem cell research, fluorescent labels and probes and RNAi reagents.
Zymed’s South San Francisco facility will become the primary site for Invitrogen’s antibody production and distribution.
“Combining our extensive experience in antibody design, development, modification, purification and production with Invitrogen’s broad portfolio of technologies and reagents will provide researchers and clinical laboratories with a consistent, comprehensive system to accelerate scientific discovery,” said Dr Dean Tsao, president and CEO of Zymed.
The transaction is expected to close by the end of February 2005. Zymed is expected to generate sales of approximately $15 million in the 12 months following the closing of the transaction. Invitrogen expects the transaction to be neutral to 2005 pro forma earnings per share, and four cents accretive in 2006.