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Invitrogen Closes PanVera Acquisition

NEW YORK, March 31 - Invitrogen has completed its acquisition of Vertex Pharmaceuticals subsidiary PanVera, the companies said today.

 

The $95 million cash deal, first announced in early February, will add PanVera's biochemical and cellular assay capabilities as well as proprietary reagents, probes, and proteins to Invitrogen's product portfolio.

 

Invitrogen is also acquiring PanVera's new R&D and manufacturing facility in Madison, Wis., where more than 100 PanVera employees are currently headquartered.

 

Invitrogen said it plans to expand the sale of PanVera products to target a broader market, including academic and government researchers.

 

Vertex Pharmaceuticals acquired the PanVera as part of its acquisition of Aurora Biosciences in July 2001.

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