Navigation Links
Gen-Probe to Acquire Prodesse, Leader in Molecular Testing for Respiratory Infectious Diseases, for $60 Million in Cash Plus Potential Milestone Payments
Date:10/6/2009

SAN DIEGO, Oct. 6 /PRNewswire-FirstCall/ -- Gen-Probe Incorporated (Nasdaq: GPRO) announced today that it has signed a definitive agreement to acquire Prodesse, Inc., a privately held leader in molecular testing for influenza and other infectious diseases, for approximately $60 million in cash. Gen-Probe's purchase price could increase to up to $85 million if Prodesse achieves certain financial and regulatory milestones in 2010 and 2011.

"We believe acquiring Prodesse supports our strategic focus on commercializing differentiated molecular tests for infectious diseases," said Carl Hull, Gen-Probe's president and chief executive officer. "The acquisition is expected to boost our near-term earnings and revenue growth by providing additional leading-edge assays for our experienced sales force to promote to our global customer base."

In connection with the acquisition, Gen-Probe and Prodesse have signed an agreement under which Gen-Probe's sales representatives in the United States, Canada and Europe will begin co-promoting Prodesse's products in mid-October.

"Our acquisition by Gen-Probe validates the significant progress we have made in developing and commercializing molecular assays that help doctors and laboratories diagnose respiratory and other infectious diseases more accurately than traditional methods," said Tom Shannon, Prodesse's president and chief executive officer. "We believe we can prepare for and accelerate our next stage of growth by leveraging the resources and expertise of one of the most established and highly respected molecular diagnostics companies in the world."

Both companies' boards of directors have unanimously approved the transaction, and the Prodesse shareholder votes necessary to approve the transaction have already been obtained. The transaction is expected to close with
'/>"/>

SOURCE Gen-Probe Incorporated
Copyright©2009 PR Newswire.
All rights reserved

Page: 1 2 3 4 5

Related biology technology :

1. Gen-Probe to Webcast Presentation at Bank of Americas 37th Annual Investment Conference
2. Gen-Probe Reports Strong Financial Results for Third Quarter 2007, Raises Full-Year Guidance for Earnings Per Share and Total Revenues
3. Gen-Probe to Webcast Three Upcoming Presentations
4. Gen-Probe Announces Webcast of Fourth Quarter and Full Year 2007 Earnings Conference Call
5. Carl Hull Named President and Chief Operating Officer of Gen-Probe
6. Gen-Probe Reports Strong Financial Results for Fourth Quarter and Full Year 2007
7. Gen-Probe to Webcast Presentations at Lehman and Cowen Healthcare Conferences
8. Gen-Probe to Webcast Presentation at Morgan Stanley Global Healthcare Unplugged Conference
9. Gen-Probe Reports Strong Financial Results for First Quarter 2008, Raises Full-Year Guidance
10. Gen-Probe to Webcast Presentation at Deutsche Bank 33rd Annual Health Care Conference
11. Lucy Shapiro, Ph.D., Elected to Gen-Probe Board of Directors
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:8/28/2014)... Best Sanitizers, Inc., a leader in ... industry, is asking industry professionals to prepare for fall ... E2 soap they’re currently using to the Best Sanitizers’ ... Hand hygiene is critical to fighting cross-contamination and the ... key criteria are identified to evaluate the effectiveness of ...
(Date:8/28/2014)... “This kit has an improved extraction efficiency and provides ... ppb,” said Mark Tess, PhD, Mycotoxin Product Manager for Charm ... and USDA-GIPSA inspection agencies that have a need to detect ... in a matter of minutes with nothing but our equipment ... and grain before accepting it, but they no longer have ...
(Date:8/28/2014)... in spintronics, an electronic which is not only ... on their spin and the spin-related magnetism. Spin-charge ... signals and vice versa. Recently, the research group ... Physics at Johannes Gutenberg University Mainz in collaboration ... has for the first time realised a new, ...
(Date:8/28/2014)... 2014 The ability for organizations to ... will allow individuals to perform at the highest of ... employers looking to compete in this post–recession era. ... trend, as the sector increasingly focuses on the importance ... will have real results on the organization's development and ...
Breaking Biology Technology:Best Sanitizers, Inc. Asks Food Industry Professionals: With Fall Harvest On the Way, Is Your E2 Hand Soap Up to the Task? 2A new, tunable device for spintronics 2A new, tunable device for spintronics 3Klein Hersh International Leads Philadelphia Area Life Science Industry in Company Culture 2Klein Hersh International Leads Philadelphia Area Life Science Industry in Company Culture 3
... ("NeoStem" or the "Company") (NYSE Amex: NBS ... revenues, global research and development capabilities and operations in ... China adult stem cells, and China pharmaceuticals, announced today ... will present at the Proactive Investors One2One Investor Forum ...
... June 15, 2011 Dr. Huda Y. Zoghbi , ... Institute (NRI) at Texas Children,s Hospital and ... the 2011 Neuroscience Prize of The Peter and Patricia Gruber ... molecular mysteries behind a number of devastating neurological disorders, including ...
... Inc. (NYSE Amex: PTN ), a biopharmaceutical ... and publication of a report on validation of a ... was supported by grants from Palatin. Michael ... and the Weill Medical College of Cornell University, presented ...
Cached Biology Technology:NeoStem to Present at Two Investor Events This Month 2NeoStem to Present at Two Investor Events This Month 3NeoStem to Present at Two Investor Events This Month 4Baylor College of Medicine and Texas Children's Hospital Neuroscientist Dr. Huda Zoghbi Awarded Gruber Neuroscience Prize 2Baylor College of Medicine and Texas Children's Hospital Neuroscientist Dr. Huda Zoghbi Awarded Gruber Neuroscience Prize 3Baylor College of Medicine and Texas Children's Hospital Neuroscientist Dr. Huda Zoghbi Awarded Gruber Neuroscience Prize 4Baylor College of Medicine and Texas Children's Hospital Neuroscientist Dr. Huda Zoghbi Awarded Gruber Neuroscience Prize 5Baylor College of Medicine and Texas Children's Hospital Neuroscientist Dr. Huda Zoghbi Awarded Gruber Neuroscience Prize 6Palatin Technologies, Inc. Announces Presentation and Publication on Validation of Scale for Subjective Male Sexual Arousal 2
(Date:8/28/2014)... and Alaska totaled 515 million board feet in volume ... more than 10 percent compared to the first quarter ... Station reported today. During this same period, West coast ... board feet. , The total value of these log ... million in the same quarter, while the total value ...
(Date:8/27/2014)... -- WaferGen Bio-systems, Inc. (NASDAQ: WGBS) today announced that it ... units of common stock and warrants at a price ... million, prior to deducting underwriting discounts and commissions and ... warrants are immediately separable and will be issued separately.  ... consists of 2,000 shares of common stock and 2,000 ...
(Date:8/27/2014)... have identified a gene that could help scientists engineer ... in the cell membrane of plants that senses changes ... machinery accordingly. , "It,s similar to a thermostat," ... Duke. , The findings, which appear Aug. 28 ... easier to feed the world,s growing population in the ...
Breaking Biology News(10 mins):West coast log exports up, lumber exports down in second quarter of 2014 2WaferGen Bio-Systems Announces Successful Completion of Public Offering Raising $20 Million 2WaferGen Bio-Systems Announces Successful Completion of Public Offering Raising $20 Million 3Water 'thermostat' could help engineer drought-resistant crops 2
... interactions in which adults with autism converse with a ... skills, according to a novel study presented in ... published by Mary Ann Liebert, Inc. ( www.liebertpub.com ). ... More than half of individuals diagnosed with ...
... , This release is available in ... to herbivore attack. To defend themselves, they have developed ... such as thale cress ( Arabidopsis thaliana ), produce ... Scientists know many different kinds of these molecules; they ...
... siblings with schizophrenia and a genetic mutation linked to major ... cells (iPS cells) using a new and improved "clean" technique. ... , the team confirms the establishment of two new lines ... In Schizophrenia 1, or DISC1. They made the cells using ...
Cached Biology News:Production of mustard oils: On the origin of an enzyme 2Production of mustard oils: On the origin of an enzyme 3Johns Hopkins team creates stem cells from schizophrenia patients 2Johns Hopkins team creates stem cells from schizophrenia patients 3
Human Carnosine Dipeptidase 1 Affinity Purified PAb...
... Polyoxyethylene Lauryl Ether ... 0.02% Kathon Preservative. Surfactant. ... in immunohistochemistry is 1 ... 35 solution added to ...
Mouse monoclonal [4i97] to HLA Class 1 A25 ( Abpromise for all tested applications). Antigen: Full length protein (Human): HLA Class 1 Antigen-A25. Swiss Protein ID: P18462...
MMP-1/8 (H-300)...
Biology Products: