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Caliper Life Sciences to Acquire NovaScreen Biosciences for Up to $30M in Stock and Cash

NEW YORK, Sept. 8 (GenomeWeb News) - Caliper Life Sciences plans to acquire NovaScreen Biosciences, a screening, profiling, and assay development-services company for up to $30 million in stock and cash, Caliper said today.

 

Under the agreement, Caliper will purchase Hanover, Md.-based NovaScreen for $22 million, subject to certain financial parameters, and up to an additional $8 million, depending on revenue milestones over the next 30 months. Eighty percent of the payments will be made in Caliper common stock and 20 percent in cash.

 

The transaction is due to close during the fourth quarter, and Caliper expects NovaScreen to contribute approximately $2 million to its revenues.

 

NovaScreen focuses on in vitro screening assays and in silico predictive screening tools, with particular expertise in receptor pharmacology.

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