Caliper Completes Acquisition of NovaScreen
News Oct 06, 2005
Caliper Life Sciences, Inc. has announced the closing of its previously announced planned acquisition of NovaScreen BioSciences Corporation.
The acquisition combines NovaScreen's screening, profiling and assay development services with Caliper's LabChip® and advanced liquid handling products to provide the pharmaceutical and biotechnology industry with a central resource for drug discovery solutions.
“By integrating and leveraging NovaScreen's expertise and technology, Caliper has become a “one-stop shop” for scientists and researchers,” said Kevin Hrusovsky, president and CEO of Caliper Life Sciences.
Customers can rely on Caliper for all in vitro drug discovery needs - technologies, products, leading screening assays and profiling services.”
“We have immediately gained a stronghold in the outsourced assay development and screening markets, especially the high-growth market of secondary screening and profiling services.”
“Caliper's technology has been adopted by the majority of top pharmaceutical companies because Caliper understands the evolving needs of the industry and provides solutions that meet these needs,” said David Manyak, president and CEO of NovaScreen.
“Caliper's presence within the industry, combined with NovaScreen's broad assay development and screening services, will position Caliper to address the unmet needs of companies working to discover safer drugs, faster.”
Consistent with the terms of the previously announced agreement, Caliper purchased NovaScreen for $22 million, subject to future adjustment based on certain financial parameters.
NovaScreen shareholders can also earn up to $8 million contingent on the achievement of defined revenue milestones over a 30-month period.
The closing consideration was paid 80 percent in Caliper common stock and 20 percent in cash.
Concept Life Sciences appoints New Group Programme Manager and US Head of SalesNews
Key leadership appointments support integration of the Group and expansion in the US market.READ MORE
Blood-vessel-on-a-chip Provides Insight into Novel Anti-Inflammatory Drug CandidateNews
Researchers have discovered that synthetic APC-mimicking small molecules called “parmodulins” provide anti-inflammatory and anti-thrombotic protection to endothelial cells on par with APC’s without interfering with normal blood clotting and coagulation, making them attractive new drug candidates.READ MORE
Diagnosing Immunity to Ebola With Paper Tests & SmartphonesNews
A promising new approach to detect immunity to Ebola virus infection has been developed by researchers from i-sense in a collaboration between UCL and Imperial College London.READ MORE