Bio-Rad Laboratories, Inc. Scoops Up Cambridge-Based GnuBIO, Inc For Undisclosed Amount
Bio-Rad Acquires GnuBIO and DNA Sequencing Technology
HERCULES, CA--(Apr 10, 2014) - Bio-Rad Laboratories, Inc. (NYSE: BIO) (NYSE: BIO.B), a global manufacturer and distributor of life science research and clinical diagnostic products, today announced that it has purchased GnuBIO, Inc.
Based in Cambridge, Massachusetts, GnuBIO is developing a faster and fully integrated droplet-based DNA sequencing technology that incorporates all the functions of DNA sequencing into a single, integrated workflow for medical diagnostics as well as research markets. While other sequencing technologies require separate workflows for target selection, DNA amplification, DNA sequencing and analysis, GnuBIO's technology will integrate the entire workflow into a single, low-cost solution that produces results within hours, versus days.
"We are pleased to have GnuBIO join Bio-Rad," said Norman Schwartz, Bio-Rad President and CEO. "We believe GnuBIO's innovative DNA workflow is well-suited for the clinical diagnostics sequencing market and will leverage Bio-Rad's leadership role in the area of droplet digital PCR."
About GnuBIO
Based in Cambridge, Massachusetts, GnuBIO is a privately-held life sciences company that has developed a droplet-based DNA sequencing platform. The innovative system developed by GnuBIO allows for a fully-integrated DNA sequencing platform that utilizes microfluidic and emulsion technology to perform complex, multiplexed reactions in droplets. This will allow both researchers and clinicians in the future to perform complete DNA sequencing workflows in a few hours instead of days.
About Bio-Rad
Bio-Rad Laboratories, Inc. (NYSE: BIO) (NYSE: BIO.B) designs, manufactures, and distributes a broad range of innovative products and solutions for the life science research and clinical diagnostic markets. The company is renowned for its commitment to quality and customer service among university and research institutions, hospitals, public health and commercial laboratories, as well as the biotechnology, pharmaceutical, and food safety industries. Founded in 1952, Bio-Rad is based in Hercules, California, and serves more than 100,000 research and healthcare industry customers through its global network of operations. The company employs approximately 7,750 people worldwide and had revenues exceeding $2.1 billion in 2013. For more information, visit our website at www.bio-rad.com.
This release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements generally can be identified by the use of forward-looking terminology such as, "believe," "expect," "may," "will," "intend," "estimate," "continue," or similar expressions or the negative of those terms or expressions. Such statements involve risks and uncertainties, which could cause actual results to vary materially from those expressed in or indicated by the forward-looking statements. For further information regarding the Company's risks and uncertainties, please refer to the "Risk Factors" in the Company's public reports filed with the Securities and Exchange Commission, including the Company's most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. The Company cautions you not to place undue reliance on forward-looking statements, which reflect an analysis only and speak only as of the date hereof. Bio-Rad Laboratories, Inc., disclaims any obligation to update these forward-looking statements.
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Bio-Rad Laboratories, Inc.
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