NEW YORK, Oct. 14 (GenomeWeb News) - Pyrosequencing said today that it has entered into an agreement with Dyax to acquire Biotage, a wholly owned subsidiary of Dyax that specializes in small-molecule purification and separation systems, for approximately $35 million in cash.
Pyrosequencing, which expanded its product line to include medicinal chemistry following its recent acquisition of Personal Chemistry, said the Biotage acquisition would enhance its chemistry portfolio.
Pyrosequencing said it plans to take over the mortgage on Biotage's newly built premises in Virginia, which will reduce the purchase price to approximately $30 million.
Biotage reported net sales of $23.2 million in 2002. The company has 126 employees.