Leading the Way in Life Science Technologies

GEN Exclusives

More »

GEN News Highlights

More »
January 10, 2008

Invitrogen to Acquire CellzDirect for $57M

  • Invitrogen plans to purchase CellzDirect for approximately $57 million in cash. CellzDirect provides hepatocyte-based cell products and related services used in the testing of new drugs.

    The transaction is expected to close in the first quarter of this year. The acquisition should be EPS neutral in fiscal 2008 and become accretive in fiscal year 2009.

    CellzDirect was founded in 2001 and employs approximately 90 people at its sites in North Carolina and Austin, TX. Revenue for calendar year 2007 is expected to be approximately $18 million, according to Invitrogen.

    “Combining with Invitrogen will enhance our already strong position in the primary cell market,” notes Scott Edelman, CellzDirect’s CEO. “We expect CellzDirect’s growth rates to benefit from cross-promotion and combination with Invitrogen’s technologies for cell culture, molecular biology, and fluorescent detection and from Invitrogen’s sales, marketing, and distribution capabilities.”

  • Finally! A cure for the Biotech News Blues.

  • Join 110,000 colleagues who rely on GEN Highlights for breaking news and exclusive articles shaping today’s life science tools and technologies.

  • Oops! Please type your email in the following format: yourname@example.com An error has occurred. Please contact Customer Service at contactGEN@genengnews.com
  • You’re all set! Thank you for subscribing to GEN Highlights.