Navigation Links
Caliper Enters Agreement to Divest Non-Core Pharmaceutical Development & Quality Analysis Product Line
Date:10/29/2008

- Sale Reinforces Strategic Focus and Enhances Cash Position -

HOPKINTON, Mass., Oct. 29 /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 has reached an agreement to sell its Pharmaceutical Development & Quality Analysis (PDQ) product line to SOTAX Corporation in a transaction valued at approximately $15.8 million. The PDQ product line consists of products used for drug content uniformity and dissolution rate testing and related services. The sale is expected to close in November 2008.

"Divesting the PDQ product line is an important milestone in our strategy to focus on core technologies in imaging, microfluidics and sample preparation and to strengthen our balance sheet by rationalizing non-strategic product segments," said Kevin Hrusovsky, President and CEO of Caliper. "A sharper strategic focus can facilitate an increased top line growth rate and potential for achieving further operating efficiencies, accelerating our timeline to profitability."

Under the terms of the agreement, SOTAX, a leader in technologies used for tablet testing, will make a cash payment of approximately $13.8 million and assume liabilities for an estimated $2 million. Furthermore, Caliper and SOTAX have expressed their intent to enter into a long-term lease agreement under which Caliper will sublease approximately 10,000 square feet of manufacturing and office space to SOTAX on a market-rate basis, thereby reducing Caliper's ongoing facility costs. Certain Caliper employees currently involved with the PDQ business will be offered positions with SOTAX.

"This acquisition represents an opportunity for SOTAX to expand its worldwide presence, especially in the United States and the United Kingdom, and is an important step in achieving our strategic growth objectives," said Rolf Benz, President and CEO of SOTAX Holding A.G. the privately-owned parent company of SOTAX Corporation. "Caliper built excellent customer relationships in this market segment and is working closely with us to ensure that the PDQ customers continue to receive the same exceptional level of customer support and service throughout the transition and beyond."

Caliper's PDQ product line is comprised of TPW3(TM) -- Tablet Processing Workstation, APW3(TM) -- Active Ingredient Processing Workstation, MultiDose(R) G3 - Dissolution Workstation, and other related products.

About Caliper Life Sciences

Caliper Life Sciences is a premier provider of cutting-edge technologies enabling researchers in the life sciences industry to create life-saving and enhancing medicines and diagnostic tests more quickly and efficiently. Caliper is aggressively innovating new technology to bridge the gap between in vitro assays and in vivo results and then translating those results into cures for human disease. Caliper's portfolio of offerings includes state-of-the-art microfluidics, lab automation & liquid handling, optical imaging technologies, and discovery & development outsourcing solutions. For more information please visit http://www.caliperLS.com.

The statement in this press release regarding future events, including Caliper's belief that the divestiture of the PDQ product line can facilitate an increased top line growth rate and potential for achieving further operating efficiencies, thus accelerating its timeline to profitability is a "forward-looking statement" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. This statement is subject to risks and uncertainties that could cause actual results to differ materially from those contemplated by the forward-looking statements as a result of a number of factors, including the possibility that for unforeseen reasons the divestiture of the PDQ product line might not be completed as contemplated. Further information on risks faced by Caliper are detailed under the caption "Risks Related To Our Business" in Caliper's Annual Report on Form 10-K for the year ended December 31, 2007. Our filings are available on a web site maintained by the Securities and Exchange Commission at http://www.sec.gov. Caliper does not undertake any obligation to update forward-looking or other statements in this release.

Caliper, TPW3, APW3 and MultiDose are trademarks of Caliper Life Sciences, Inc.


'/>"/>
SOURCE Caliper Life Sciences, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related biology technology :

1. Caliper Life Sciences Third Quarter 2008 Financial Results Conference Call Notice
2. Caliper Life Sciences and DiscoveRx Announce Availability of PathHunter eXpress Reagents for GPCR Assays
3. Caliper Life Sciences to Present at UBS Global Life Sciences Conference
4. Caliper Launches Small Animal Molecular Imaging System Enabling Real-Time Video Observation
5. Caliper Life Sciences Receives $1.1 Million Task Order from the EPAs ToxCast(TM) Screening Program
6. Carna Biosciences Signs Reagent Supply Agreement with Caliper Life Sciences
7. Caliper Life Sciences Reports Second Quarter 2008 Results
8. Caliper Life Sciences Second Quarter 2008 Financial Results Conference Call Notice
9. Caliper Life Sciences Added to Russell 3000(R) Index
10. Caliper Life Sciences to Present at Deutsche Banks 33rd Annual Health Care Conference
11. Caliper Life Sciences and DiscoveRx Collaborate to Offer Solutions for Cell-Based GPCR Profiling and Lead Optimization
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/23/2016)... ... 23, 2016 , ... Charm Sciences, Inc. is pleased to ... AOAC Research Institute approval 061601. , “This is another AOAC-RI approval of the ... Vice President of Regulatory and Industrial Affairs. “The Peel Plate methods perform comparably ...
(Date:6/23/2016)... YORK , June, 23, 2016  The Biodesign ... to envision new ways to harness living systems and ... Modern Art (MoMA) in New York City ... than 130 participating students, showcased projects at MoMA,s Celeste ... Paola Antonelli , MoMA,s senior curator of architecture ...
(Date:6/23/2016)... , ... June 23, 2016 , ... ... announced the launch of the Supplyframe Design Lab . Located in Pasadena, ... explore the future of how hardware projects are designed, built and brought to ...
(Date:6/23/2016)... ... June 23, 2016 , ... In a new case report published today ... a patient who developed lymphedema after being treated for breast cancer benefitted from an ... paradigm for dealing with this debilitating, frequent side effect of cancer treatment. ...
Breaking Biology Technology:
(Date:6/27/2016)... , June 27, 2016 Research and Markets ... America 2016-2020" report to their offering. ... North America to grow at a CAGR of 12.28% ... prepared based on an in-depth market analysis with inputs from industry ... over the coming years. The report also includes a discussion of ...
(Date:6/22/2016)... American College of Medical Genetics and Genomics was once again ... of the fastest-growing trade shows during the Fastest 50 Awards ... Las Vegas . Winners are ... of the following categories: net square feet of paid exhibit ... 2015 ACMG Annual Meeting was ranked 23 out of 50 ...
(Date:6/22/2016)... 2016   Acuant , the leading ... has partnered with RightCrowd ® to ... Management, Self-Service Kiosks and Continuous Workforce Assurance. ... functional enhancements to existing physical access control ... with an automated ID verification and authentication ...
Breaking Biology News(10 mins):