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Pelican Life Sciences Secures $100M in VC Cash; Closes First Acquisition, Plans More

NEW YORK, April 25 (GenomeWeb News) - Nascent reagent shop Pelican Life Sciences has raised $100 million in private equity for acquisitions and development, the company said yesterday.

 

The company also said that it has completed its first acquisition of PML Microbiologicals, which it originally announced in December.

 

The firm will use the cash to acquire "premier companies with proven track records of providing high-quality, differentiated products to support the pharmaceutical, biotech, and academic research markets," Pelican said in a statement.

 

Pelican also said that it would use the money to support product development, streamline manufacturing operations, and expand sales and marketing in its acquired entities.

 

Headquartered in Charlotte, NC, Pelican provides products for discovery and detection, including life science reagents and consumables targeted to the microbiology and molecular biology markets.

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