NEW YORK, Dec. 6 (GenomeWeb News) - Invitrogen has reorganized its business and formed three new divisions out of its traditional BioDiscovery and BioProduction business units, the company said yesterday.
As of Jan. 1, 2006, Invitrogen's new units will be called Life Sciences, Bio-Production Systems and Services, and Enabling Technologies division, and each will have its own manufacturing, R&D, and marketing functions, Invitrogen said.
"This realignment allows us to focus our development and commercial efforts along key technology workflows in order to help researchers shape the protocols of tomorrow's medical breakthroughs," Greg Lucier, chairman and CEO of Invitrogen, said in a statement.
The Life Sciences segment will focus on molecular biology and biomedical applications, including cloning and protein expression, protein analysis, gene-expression profiling, and drug discovery tools. Jon Hindar, who served as CEO of recent Invitrogen acquisition Dynal Corporation, will serve as senior vice president of Life Sciences.
It was not immediately clear whether lay-offs are part of the reorganization.
Bio-Production Systems and Services will include the current Gibco and BioReliance products and services, as well as Invitrogen's bioproduction process development initiative, Invitrogen said. Nicolas Barthelemy, currently head of global operations for Invitrogen, will lead the division.
Enabling Technologies will focus on nanotechnology, imaging and microscopy, cell separation and analysis, labeling and detection, bead-based separations, and the antibody center of excellence. This division will include the Molecular Probes, Dynal, BioSource, and Quantum Dot brands, Invitrogen said. John Miller will be senior vice president of Enabling Technologies. Miller comes to Invitrogen from rival BD Biosciences, where he was vice president and general manager for the Americas.
The divisions will also be "integrated" with technology "sales specialist teams" that provide scientific expertise in targeted research areas.
In a separate announcement yesterday, Invitrogen released details for its upcoming conference on 2006 financial guidance. The presentation will be held Dec. 14 at 2 PM at the Grand Hyatt New York on Park Avenue at Grand Central Station. Registration and reception will begin at 1:30 PM.
In addition, last week Invitrogen purchased $100 million of its 2.25 percent convertible subordinate notes due 2006. This transaction reduces the company's full-diluted shares outstanding by approximately 1 million shares for fiscal 2006, the company said.