SANTA CLARA, Calif., Sept. 8 /PRNewswire/ -- Cell Biosciences, Inc. and Alpha Innotech Corp. (OTC Bulletin Board: APNO) today announced that they have entered into a definitive agreement providing for the acquisition of Alpha Innotech by Cell Biosciences for $1.50 per share or approximately $17.9 million in cash. This acquisition would significantly expand Cell Biosciences' protein analysis business to include a global infrastructure and a broad protein analysis product portfolio.
Founded in 1992, Alpha Innotech is a pioneer in the use of high-sensitivity digital imaging systems for genomic and proteomic research. The company offers a broad range of best-in-class products, from entry-level gel documentation systems to premier systems for multiplexed fluorescence and proteomics applications. The company has sold over 10,000 systems worldwide. In 2008, Alpha Innotech achieved revenues of $17.6 million and was profitable on both an operating and a net income basis. Alpha Innotech employs 62 people, primarily at its San Leandro, California headquarters.
Cell Biosciences is a private life sciences company established in 2004, and is focused on revolutionizing protein and biomarker research. The company's lead product is the CB1000, a nanofluidic immunoassay platform designed for ultrasensitive detection and characterization of oncoproteins and other signaling proteins in ultra-small biological samples, such as small tumor biopsies and stem cells. Cell Biosciences is headquartered in Santa Clara, California and has 49 employees located in North America and Europe.
The combination of Cell Biosciences and Alpha Innotech would create a global protein analysis business with a broad product line featuring both traditional and novel protein analysis technologies. Virtually every protein research laboratory worldwide would become a potential customer for the combined entity.
|SOURCE Cell Biosciences, Inc.|
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