NEW YORK (GenomeWeb News) – Molecular Transfer today said that it has acquired Global Stem, a maker of tools and reagents used in stem cell research, for an undisclosed sum.
Gaithersburg, Md.-based Molecular Transfer sells transfection and transformation reagents used in the pharmaceutical, biotech, and academic research markets. The firm said that the all-cash acquisition will expand its capabilities into the stem cell and neuroscience research markets.
Rockville, Md.-based GlobalStem also provides contract services to ensure the identity, stability, and integrity of stem cell lines, the firms said.
"Our initial focus will be to leverage our proprietary transfection technology with stem cells, including reprogrammed stem cells, and introduce novel products, directly and through OEM relationships," Molecular Transfer CEO Joel Jesse said in a statement.
Molecular Transfer will retain all of GlobalStem's employees and its lab facilities. In addition, GlobalStem CEO Jonathan Auerbach will become president and CSO of the new GlobalStem division of Molecular Transfer.