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PE Biosystems to Acquire Third Wave for $325 Million

Jan 28, 2000
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OSTER CITY, Calif.--PE Biosystems Group is set to acquire Third Wave Technologies for $325.1 million in stock, according to a Bloomberg News report. PE Biosystems will give up 1.97 million common shares for the six-year old company with 120 employees in Madison, Wis. The PE subsidiary will get Third Wave’s Invader nucleic acid detection technology, which it hopes will accelerate its pharmacogenomics efforts in identifying which genes are involved in specific diseases, and how patients might respond to certain treatments.

Third Wave recently announced that it is collaborating with the Sanger Centre to use Invader to construct the first high-density SNP map of a human chromosome (chromsome 22) and corresponding SNP test panel.

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