Molecular Transfer Inc. Acquires GlobalStem - Expands into Stem Cell and Neuroscience Research Markets
News Apr 21, 2010
Molecular Transfer Inc. (MTI) is expanding into stem cell and neuroscience research markets through the acquisition of GlobalStem. The all-cash acquisition will allow MTI to strategically bring together both companies’ technologies and expertise to expand into these rapidly growing research areas.
GlobalStem, Inc. is known for high-quality standardized tools and reagents used in stem cell research and for its contract services to ensure the identity, stability and integrity of stem cell lines. The company’s sales are growing in excess of 50% annually. MTI has retained all of GlobalStem’s employees and their lab facilities and plans to expand the group to meet the strong projected growth and to provide support for their substantial customer base. Dr. Jonathan Auerbach, CEO of GlobalStem, will become President and CSO of MTI’s new GlobalStem division.
"Merging the two companies brings together proven experts in transfection, neurobiology and stem cell biology. This scientific expertise combined with MTI’s product development experience will allow MTI to provide novel solutions to the stem cell and neurobiology markets,” said Joel Jessee, CEO at MTI. “Our initial focus will be to leverage our proprietary transfection technology with stem cells, including reprogrammed stem cells, and introduce novel products, directly and through OEM relationships”.
Jonathan Auerbach added, “All of us at GlobalStem are excited about the opportunity to join MTI and grow our core business. The combined company’s ability to transfect various molecules into stem cells, primary cells and neuronal cells will be a valuable combination for our customers.”