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Invitrogen Stock Down on News of Nucleic Acid-Purification Vendor Acquisition

This story has been updated from an earlier version to inlcude stock quotes and details of DNA Research Innovations' ChargeSwitch technology.

NEW YORK, Oct. 28 (GenomeWeb News) - Shares in Invitrogen were down .25 percent at $56.08 in mid-afternoon trading after jumping to $56.76 after the company said it acquired nucleic acid-purification company DNA Research Innovations.

 

Invitrogen, which has made a name for itself as a hungry corporate acquirer, paid $35 million for the Kent, UK-based firm. Invitrogen may also give DNA Research as much as $30 million if certain undisclosed R&D milestones are met.

 

The deal gives Invitrogen control of the company's ChargeSwitch nucleic acid-purification technology, which can be used with either DNA or RNA in a range of formats, and includes manual purification of a few samples for high throughput automated applications, the companies said. The platform can be used in bacteria, tissues, blood, forensic sample and buccal cells.

 

ChargeSwitch does not require the use of caustic chemicals, and can be applied to surfaces such as magnetic beads, microtiter plates, columns, and cartridges. Invitrogen said it expects the platform to help it develop novel tailor-made purification strategies.

 

"We believe the advantages of [the] ChargeSwitch technology will provide researchers with a compelling reason to start their projects using Invitrogen products," Greg Lucier, Invitrogen's chairman and CEO, said in a statement.

 

DNA Research currently sells a number of purification kits in the United Kingdom, and has a pipeline of other products scheduled for release in the future. The ChargeSwitch technology can be automated using a Tecan platform; automation options from competing instrument vendors are currently being developed, Invitrogen said.

 

The acquisition follows Invitrogen's purchase of and Molecular Probes in August,  Xeotron in May, and  Protometrix in April.

 

Invitrogen plans to release its third-quarter earnings after the market closes today.

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