Caliper to Acquire NovaScreen Biosciences

(Hopkinton, MA, USA) has agreed to acquire NovaScreen Biosciences (Hanover, MD, USA) for U.S.$22 million, plus payments of up to $8 million contingent on the achievement of defined revenues milestones over a 30-month period.

NovaScreen provides screening, profiling, and assay development services for pharmaceutical and biotechnology companies worldwide and for government agencies. By acquiring NovaScreen, Caliper will become a "one-stop shop” for in vitro drug discovery, with state-of-the-art technologies and products as well as leading screening assays and profiling services. Caliper will be positioned to address emerging needs in the life sciences industry, such as safety profiling assays, secondary screening and profiling, and assay development.

"Through this acquisition, we see significant opportunities to leverage Caliper's and NovaScreen's combined expertise and technologies to better serve the pharmaceutical industry,” observed Kevin Hrusovsky, president and CEO of Caliper. He also remarked that during the due diligence process, the company conducted customer surveys and found that NovaScreen was consistently ranked highest for data quality and overall service. NovaScreen offers more than 600 different assays.

David Manyak, president and CEO of NovaScreen, commented: "NovaScreen's service offerings clearly will benefit from Caliper's innovative LabChip, liquid handling and automation technologies, as well as its strong strategic relationship with pharmaceutical and biotechnology companies.





Related Links:
Caliper Life Sciences
NovaScreen Biosciences