Hercules, CA — October 5, 2011 — Bio-Rad Laboratories, Inc. (NYSE: BIO and BIOb), a multinational manufacturer and distributor of life science research and clinical diagnostics products, announced today that it has purchased QuantaLife, Inc. for $162 million in cash plus potential future milestone payments.
QuantaLife has developed an innovative digital PCR (Polymerase Chain Reaction) system that provides quantification of target molecules with unprecedented precision and sensitivity. This next generation PCR technology builds on the well established method of amplifying DNA that is used in research laboratories around the world. Digital PCR provides researchers with a new tool for the detection of rare mutations including distinguishing rare sequences in tumors, precise measurement of copy number variation, and absolute quantification of gene expression.
"We are impressed with QuantaLife's digital PCR technology and believe it will complement Bio-Rad's existing amplification business," said Norman Schwartz, Bio Rad President and CEO. "This elegant solution expands the current state of the art methods of quantitative PCR (qPCR), and we look forward to its adoption in life science research."
Based in Pleasanton, California, QuantaLife is a privately-held life sciences company that provides advanced genetic analysis systems for research. QuantaLife has commercialized the Droplet Digital™ (ddPCR) system, the most accurate genetic analysis platform available today. The system is the first cost-effective, high-resolution platform available for the validation of next-generation sequencing discoveries. It is easy to use, easy to automate, and easy to integrate into existing workflows in both life science and clinical research labs. With the ddPCR system, researchers can explore complex genetic landscapes in high-definition, discover new disease associations, and define a new category of improved molecular diagnostic tests.
Bio-Rad Laboratories, Inc. (NYSE: BIO and BIOb) has remained at the center of scientific discovery for more than 50 years, manufacturing and distributing a broad range of products for the life science research and clinical diagnostic markets. The company is renowned worldwide among hospitals, universities, major research institutions, as well as biotechnology and pharmaceutical companies for its commitment to quality and customer service. Founded in 1952, Bio-Rad is headquartered in Hercules, California, and serves more than 100,000 research and industry customers worldwide through its global network of operations. The company employs over 6,800 people globally and had revenues exceeding $1.9 billion in 2010. For more information, visit www.bio-rad.com.
This release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements generally can be identified by the use of forward-looking terminology such as, "believe," "expect," "may," "will," "intend," "estimate," "continue," or similar expressions or the negative of those terms or expressions. Such statements involve risks and uncertainties, which could cause actual results to vary materially from those expressed in or indicated by the forward-looking statements. For further information regarding the Company's risks and uncertainties, please refer to the "Risk Factors" in the Company's public reports filed with the Securities and Exchange Commission, including the Company's most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. The Company cautions you not to place undue reliance on forward-looking statements, which reflect an analysis only and speak only as of the date hereof. Bio-Rad Laboratories, Inc., disclaims any obligation to update these forward-looking statements.
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Bio-Rad Laboratories, Inc.
Tina Cuccia, Corporate Communications