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Finnzymes Instruments Oy Establishes New Sister Company, BioInnovations Oy



1/12/2007 2:47:27 PM

Finnzymes Instruments enters into a joint venture with Bridge Biosciences Corporation to form a new company called BioInnovations Oy. In exchange for monetary considerations, Finnzymes Instruments becomes the majority shareholder in this new entity.

The deal transfers all physical assets, patents and expertise from the PCR plastics business of Bridge Biosciences to BioInnovations. Pekka Mattila, CEO of Finnzymes Instruments commented on the joint venture: “This partnership will secure unique intellectual property related to the design and manufacture of vessels for high performance PCR.

It also will ensure that Finnzymes Instruments can offer a broad range of innovative consumables to the molecular diagnostics and life science research markets.” Bruce Turner, current President of Bridge Biosciences, will take the helm of BioInnovations and says he “looks to offer consumable products with useful and novel features for researchers in the life science market.” The financial terms of the deal were not disclosed.

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