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Orchid Sells SNP Genotyping Business to Beckman Coulter

NEW YORK, Dec. 23 - Orchid BioSciences said last week that Beckman Coulter acquired its SNP genotyping instrumentation business.

 

Beckman Coulter acquired the rights to Orchid's SNP genotyping instrumentation, reagents, and software formerly marketed by Orchid Life Sciences, according to the companies. Beckman Coulter also received an exclusive license to use Orchid's SNP-IT SNP analysis technology in products sold to research and specialty-testing markets, and a non-exclusive license to use SNP-IT in the field of diagnostics.

 

Orchid retained rights to use SNP-IT technology in the diagnostics market and in its genoprofiling service businesses. The company also said it will continue to use SNP-IT technology for its pharmaceutical and agricultural customers. Orchid has retained the rights to its portfolio of SNP technology patents.

 

Beckman Coulter paid Orchid via cash and the assumption of debt obligations. Financial details of the agreement were not disclosed.

 

Orchid announced in November its intention to sell off a portion of its life sciences business.

 

"The sale of assets of our Orchid life sciences business to Beckman Coulter marks another milestone in our ongoing progress to sharpen our business focus," Andrew Savadelis, chief financial officer of Orchid, said in a statement. Savadelis predicted that the sale would help Orchid become profitable towards the end of 2003.

 

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