Life Technologies (LIFE) to Invest $18 Million in Facility Expansion and Current Good Manufacturing Practice Compliance Plan
3/28/2013 6:52:02 AM
CARLSBAD, Calif., March 28, 2013 /PRNewswire/ -- Life Technologies Corporation (NASDAQ: LIFE) today announces plans to invest $18 million in a multi-phase plan to expand its facility in Pleasanton, Calif., where it will implement Current Good Manufacturing Practice (cGMP) capabilities for its genetic analysis products. The project, which executes against Life's roadmap to broaden its offerings in the growing molecular diagnostics market, will break ground in the second quarter of 2013. The expanded facility will provide accessibility for customers on a global scale and enable more efficient business continuity planning.
"As a provider of molecular companion diagnostic development and testing for the pharmaceutical and biotech industries, it is paramount that we have access to trustworthy oligos products that meet GMP compliance," said Byung-in Lee, Ph.D., MBA,Senior Director, Research & Development for AltheaDx. "Reagents such as those planned in Life Technologies' new manufacturing facility are essential for meeting regulatory requirements and will help speed up our companion diagnostic development and validation process."
The Pleasanton facility currently manufactures TaqMan® assays, GeneArt®and Ion AmpliSeq product lines and other widely used reagents that are part of Life Technologies' genetic analysis portfolio. The first phase of the project will repurpose 10,000 square feet of space to manufacture molecular probes and primers under cGMP standards. Subsequent phased expansions totaling an additional 30,000 square feet will follow over the next one-to-three years to produce regulatory-compliant materials for qPCR workflows in the clinical space.
"We are committed to providing the highest quality products that help meet the specific needs of our growing diagnostic and pharmaceutical customer base," said Mark Stevenson, President and COO of Life Technologies. "The expansion of our Pleasanton facility and plan to achieve cGMP certification underscores our growth strategy in new markets and our commitment to win in genetic analysis from discovery to diagnostics."
Products manufactured in cGMP-certified facilities ensure their quality meets standards of control for use in the pharmaceutical and medical fields. Life Technologies currently has nine facilities that follow cGMP standards and are ISO 9001/13485-compliant for the manufacture of a broad spectrum of products, including instruments, various reagents, assays, cell culture media and sera.
About Life Technologies
Life Technologies Corporation (NASDAQ: LIFE) is a global biotechnology company that is committed to providing the most innovative products and services to leading customers in the fields of scientific research, genetic analysis and applied sciences. With a presence in more than 180 countries, the company's portfolio of 50,000 end-to-end solutions are secured by more than 5,000 patents and licenses that span the entire biological spectrum -- scientific exploration, molecular diagnostics, 21st century forensics, regenerative medicine and agricultural research. Life Technologies has approximately 10,000 employees and had sales of $3.8 billion in 2012.
Life Technologies' Safe Harbor Statement
This press release includes forward-looking statements about our anticipated results that involve risks and uncertainties. Some of the information contained in this press release, including, but not limited to, statements as to industry trends and Life Technologies' plans, objectives, expectations and strategy for its business, contains forward-looking statements that are subject to risks and uncertainties that could cause actual results or events to differ materially from those expressed or implied by such forward-looking statements. Any statements that are not statements of historical fact are forward-looking statements. When used, the words "believe," "plan," "intend," "anticipate," "target," "estimate," "expect" and the like, and/or future tense or conditional constructions ("will," "may," "could," "should," etc.), or similar expressions, identify certain of these forward-looking statements. Important factors which could cause actual results to differ materially from those in the forward-looking statements are detailed in filings made by Life Technologies with the Securities and Exchange Commission. Life Technologies undertakes no obligation to update or revise any such forward-looking statements to reflect subsequent events or circumstances.
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