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With $1B in the Bank, Invitrogen Hungry for Proteomics, Informatics Acquisitions

SAN FRANCISCO, Jan. 10 - Invitrogen, sitting on $1 billion in cash, is poised to acquire proteomics and informatics companies when it finds the right matches, CEO Lyle Turner said.

 

Though he would not offer any specific companies, Turner did say the focus was on private "mom and pop" companies.

 

Turner, speaking at the 20th annual JPMorgan H&Q Healthcare Conference, which ends today, said Invitrogen was evaluating companies for acquisition and licensing deals, though he did not set a specific dollar target for total potential deals in 2002.

 

The company is interested in proteomics companies with "interesting technology to help scientists label and detect [proteins] more easily," said Turner.

 

It is also seeking companies with "integrating information technology," he said. Such companies include those with well-annotated genetic information, access to many different databases, and companies with software for performing homology searches.

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