This update serves to clarify that Invitrogen has divested the Heidelberg, Germany-based unit of its BioReliance business. The BioReliance business itself, which Invitrogen will retain, is based in Rockville, Md. The original story was based on a press release that did not describe the relationship between the Heidelberg and Rockville businesses.
After the management buy-out, which was led by Thomas Pultar, the company will be called BIOMEVA.
BioReliance Manufacturing is based in Heidelberg, Germany. It is a "small part" of the overall BioReliance business, based in Rockville, Md., which Invitrogen will retain, according to a company spokesperson.
Terms of the divestiture were not disclosed. Invitrogen acquired Rockville-based BioReliance in December 2003 for $500 million.
"Bacterial contract manufacturing was not aligned with our strategic direction," Bernd Brust, vice president and general manager for Invitrogen Europe, said in a statement.
BioReliance Manufacturing offers fermentation and purification services using recombinant and natural microorganisms. The new company will continue this model, it said.