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Applied Biosystems (ABI) And MDS Inc. (MDZ) Complete Transaction


10/19/2005 5:11:54 PM

Applied Biosystems Group (NYSE:ABI), an Applera Corporation business, and MDS Inc. (NYSE:MDZ)(TSX:MDS) today announced the completion of the transaction to expand the scope of their joint venture in life science mass spectrometry. Under the terms of the transaction which was announced on September 1, 2004, MDS will pay US$40 million for a 50 percent interest in intellectual property assets related to current Applied Biosystems MALDI Time-of-Flight (TOF) mass spectrometry systems and next-generation products under development, together with a 100 percent interest in certain MALDI TOF product-related manufacturing and research and development assets. MDS and Applied Biosystems have each contributed the MALDI TOF and related intellectual property to Applied Biosystems/MDS Sciex Instruments, a 50/50 joint venture of Applied Biosystems and the MDS Sciex division.

Read at BioSpace.com

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