Invitrogen to Acquire Dynal Biotech
Invitrogen is acquiring Dynal Biotech from majority owner Nordic Capital and a co-investor for approximately NOK 2.5 billion.
“As with our acquisition of Molecular Probes, Dynal provides us with a premier technology platform that, when combined with many of our leading biomedical research products, will create breakthrough innovations,” explained Invitrogen Chairman and CEO, Gregory T. Lucier. “The major product enhancements made possible by the use of Dynal’s Dynabead system will further our mission of accelerating disease research and drug discovery, as well as our initiative to provide cutting edge tools to diagnostic companies worldwide.”
Dynabead technology is based on the ability to produce highly uniform spherical microparticles that are superparamagnetic, meaning they exhibit magnetic properties only when placed within a magnetic field. Dynal and others treat the surface of these particles with chemical groups and biological materials useful in research applications.
“We believe that products resulting from combining the two companies’ technologies will play a key role in supporting several emerging trends in healthcare,” added Mr. Lucier.
One example of the application of Invitrogen/Dynal synergies in healthcare involves treatments that focus on strengthening a patient’s own immune system. Separating specific cells that play a key role in fighting disease is a cornerstone of this immunotherapy. By coupling the Dynabead technology with targeted antibodies from Invitrogen’s extensive collection, through our anticipated purchase of Zymed Laboratories, researchers will have an efficient and effective system capable of identifying and isolating these important cells from a single blood sample.
“Our management team has had strong support from the owners in developing our company to this point,” said Jon Hindar, President and CEO of Dynal. “Becoming a part of Invitrogen is an important strategic next step that will open new possibilities and continue to strengthen our position.”
The transaction is expected to close by the end of the first quarter of 2005.
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