Invitrogen Corporation (IVGN) To Acquire Immunological Reagent Provider CALTAG Laboratories; Deal Adds Expertise In Assays For Flow Cytometry To Strengthen Invitrogen's Growing Proteomics Portfolio
10/19/2005 5:10:07 PM
CARLSBAD, Calif. & BURLINGAME, Calif.--(BUSINESS WIRE)--May 16, 2005--Invitrogen Corporation (Nasdaq:IVGN) today announced it has signed a definitive agreement to acquire privately held immunological assay manufacturer Caltag Laboratories in a cash transaction totaling $20 million. Caltag develops, manufactures and markets antibodies and reagents to biotechnology and pharmaceutical companies, private and university hospitals and research laboratories. The transaction is expected to close by the end of the second quarter of 2005.
"Caltag's expertise in producing antibodies and reagents for flow cytometry applications adds another key capability to Invitrogen's proteomics portfolio that we strengthened earlier this year with the acquisition of Zymed Laboratories and its 3,000 antibodies and related products," said Gregory T. Lucier, Chairman and CEO of Invitrogen Corporation. "Caltag also strengthens Invitrogen's new Antibody Center of Excellence that we have established in the San Francisco Bay Area."
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