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Gen-Probe to Acquire Tepnel Life Sciences, Fast-Growing European Molecular Diagnostics Company, for 92.8 Million Pounds Sterling ($132.2 Million) in Cash
Date:1/30/2009

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"We believe Gen-Probe's offer represents significant value for Tepnel shareholders, and recognizes both our past achievements and our future potential in molecular diagnostics and pharmaceutical services," said Ben Matzilevich, Tepnel's chief executive officer. "We are excited about the opportunity to accelerate our strategic plans as part of one of the most established and highly respected molecular diagnostics companies in the world."

Gen-Probe anticipates that Tepnel's human leukocyte antigens (HLA) testing products will facilitate its diversification into the transplant typing market. HLA testing is used to match donors and recipients in anticipation of transplant surgeries, as well as in the ongoing management of transplant recipients. Tepnel brings an established position in the segment with strong opportunities for continued growth. The company sells xMAP(R) multiplex assays in the field of transplant diagnostics under its development and supply agreement with Luminex. The worldwide market for HLA tests is estimated at $260 million in 2008, and is forecast to grow at a low-double-digit rate.

Gen-Probe believes that Tepnel's genetic disease testing business is complementary to its molecular diagnostics activities. Tepnel sells genetic tests for cystic fibrosis, Down's syndrome and familial hypercholesterolemia, among others. The companies anticipate that Gen-Probe's proven record in the development of novel diagnostics, its premier commercialization capabilities, and its reputation within the clinical community will help accelerate Tepnel's molecular diagnostics activities.

Tepnel's pharmaceutical services business has master service agreements with a number of major pharmaceutical clients, and Gen-Probe believes its ownership of Tepnel will further strengthen these relationships. In addition, Tepnel's activities in this segment provide Gen-Probe an opportunity to expand into the
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SOURCE Gen-Probe Incorporated
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