Caliper Enhances Strategic Focus and Increases Growth Capital with Sale of Product Lines ... ( HOPKINTON Mass. span class xn-chr.....)

Caliper Enhances Strategic Focus and Increases Growth Capital with Sale of Product Lines to Biotage

Date:5/17/2010

HOPKINTON, Mass., May 18 /PRNewswire-FirstCall/ -- Caliper Life Sciences, Inc. (Nasdaq: CALP), a leading provider of tools and services for drug discovery and life sciences research, today announced that it reached an agreement to sell its RapidTrace^® solid phase extraction and TurboVap^® evaporation product lines to Biotage AB for $16.5 million in cash.

"Divesting these product lines is a win-win for Caliper and Biotage. For Caliper, it simplifies our product offerings allowing further focus on our core growth businesses of biomolecular sample preparation, imaging and analysis platforms, and also adds cash to our balance sheet to enable potential future strategic investments. For Biotage, these product lines expand its sample preparation expertise and broaden its target markets outside the pharma segment. Beyond this sale, we believe there are future manufacturing, innovation and commercial channel collaboration opportunities between Caliper and Biotage," said Kevin Hrusovsky, President and CEO of Caliper. "As a result of this divestiture, our patented, proprietary IVIS^® Imaging Systems and LabChip^® product groups now comprise more than 75 percent of Caliper's revenue. The proceeds from this sale will enhance our capability to make additional investments in the high-growth markets we serve, including next generation sequencing, biotherapeutics, molecular diagnostics and imaging."

Biotage is acquiring the RapidTrace and TurboVap product lines and associated assets for $16.5 million in cash and assumed liabilities of approximately '/>"/>

SOURCE Caliper Life Sciences, Inc.
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