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Ventana Medical Systems, Inc. (VMSI) Buys Spring Bioscience for $28.9 Million


9/5/2007 6:58:03 AM

TUCSON, Ariz.--(BUSINESS WIRE)--Ventana Medical Systems, Inc. (NASDAQ: VMSI), the global leader in tissue-based cancer diagnostics, today announced that it has acquired Spring BioScience Corporation, an industry-leading developer and supplier of next generation rabbit monoclonal antibodies and other reagents, for $28.9 million in cash. Ventana will also pay Spring shareholders up to $11.7 million over the next two years as Spring achieves specific scientific milestones. Spring BioScience, located in Fremont, California will be operated as a wholly-owned subsidiary of Ventana.

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