NextGen Sciences Divests Electrophoresis Business to Sigma-Aldrich
News Mar 04, 2009
NextGen Sciences has sold its electrophoresis business to Sigma-Aldrich Corporation. NextGen Sciences will receive a cash payment and royalty payments on revenues for three years.
This announcement follows on from the divestiture of the non core ‘gene to protein’ automation and software business announced on 5 December 2008 and completes the strategic realignment of NextGen Sciences.
The disposals are in line with NextGen Sciences’ strategic plan, announced in April 2008, to divest or wind down its software and instrumentation UK-based businesses and to focus all resources including the profit realized from these transactions on growing the biomarker services business.
The deal involves the acquisition of the automated gel casting unit, the a2DEoptimizer™ and optigels™, the range of premium large format pre-cast gels, to Sigma-Aldrich Corporation. Sigma-Aldrich will focus primarily on the supply of optigels, initially to the North American and European markets.
Launched in November 2007, NextGen Sciences’ service portfolio (biomarkerexpress™) includes biomarker discovery, assay development and testing. Biomarkerexpress services utilize proprietary methods that enable biopharma clients, researchers and clinicians to significantly decrease the biomarker development timelines in their Research and Development programs. The Company is working on a number of clinical biomarker projects in partnership with major pharmaceutical companies.
Dr Michael Pisano, CEO of NextGen Sciences, commented: “The sale completes the disposal of our non core businesses, enabling us to focus on our biomarkerexpress services. In future, customers for electrophoresis products will benefit from Sigma-Aldrich’s knowledge and reach.”
Dale Peluso, Strategic Marketing Manager, Sigma-Aldrich, said: “We have been impressed with the quality and reputation of optigels and look forward to delivering that quality through the Sigma Aldrich brand.”