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Roche Closes 454 Acquisition; 'Added Resources' Will Buoy R&D, Manufacturing

NEW YORK (GenomeWeb News) — Roche has closed its acquisition of CuraGen subsidiary 454 Life Sciences in a cash and stock deal valued at as much as $155 million, 454 and CuraGen said today.
 
454's 167 employees will remain at the company's facilities in Branford, Conn., and will operate under the Roche Diagnostics division.
 
454 President Christopher McLeod said the deal brings his company "added resources to the research and development and manufacturing activities ... both of which are expected to expand as we see increasing demand for our sequencing products and services."
 
Roche Diagnostics has been the sole worldwide distributor for 454's Genome Sequencer systems and reagents since 2005.
 
CuraGen CEO Frank Armstrong said the divestiture brings the company "a significant infusion" of capital, and that it now has around three years worth of operating cash to fund continued development of its cancer therapeutics programs.
 
As GenomeWeb Daily News reported in March, Roche Holdings said it would put up $140 million in cash and as much as $14.9 million in outstanding stock options to acquire 454.

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