Caliper Wraps Up NovaScreen Acquisition

NEW YORK, Oct. 4 (GenomeWeb News) - Caliper Life Sciences has completed its acquisition of NovaScreen Biosciences for up to $30 million, the companies said today.

Caliper can now set its sights on the outsourced assay-development and -screening markets, "especially" the secondary screening and profiling -services market, the company said in a statement. The acquisition could also enable Caliper to play a greater role in the kinase-screening market.

As GenomeWeb News reported last month, Caliper Life Sciences planned to acquire 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.

Caliper said it expects NovaScreen to contribute approximately $2 million to its revenues.

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