CARLSBAD, Calif., Jan. 16, 2012 /PRNewswire/ -- Life Technologies Corporation (NASDAQ: LIFE) today announced that it has signed an agreement with DaAn Gene, a leading Chinese company in molecular in-vitro diagnostics (IVD), to form Life Technologies DaAn Diagnostics, a joint venture diagnostics business in China. The move is expected to contribute to the early diagnosis of oncology, infectious diseases and genetic diseases. Financial terms of the deal were not disclosed.
Life Technologies DaAn Diagnostics with its headquarters in Guangzhou, will develop and commercialize a portfolio of molecular diagnostic assays using Life Technologies' 3500Dx Capillary Electrophoresis instrument and the Big Dye® Cycle Sequencing technologies, focused on IVD assays for oncology, infectious and genetic diseases. The joint venture allows both companies to expand the use of Capillary Electrophoresis technology into the Chinese clinical diagnostics market.
"This joint venture strengthens the foundation of our clinical diagnostics business and represents a big leap forward for our business in China," said Gregory Lucier, Chairman and CEO of Life Technologies. "As a leading biotechnology company, we are at the forefront of a rapidly evolving healthcare landscape. This joint venture and its products will play a key role in disease prevention and therapy selection and is complementary to the Chinese government's 12th five-year plan to promote national economic and social development."
"The joint venture will help us offer leading medical diagnostic technologies with cost-effective solutions to Chinese healthcare professionals," said Dr. Siddhartha Kadia, President of Life Technologies, Greater China. "This approach leverages our expertise in platform development and DaAn's expertise in regulated markets wit
|SOURCE Life Technologies Corporation|
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