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Prometheus Announces Agreement to be Acquired by Nestle Health Science
Date:5/23/2011

nd research and development in gastrointestinal and oncology diagnostics will accelerate the research program that is being established in the newly-created Nestle Institute of Health Sciences.  It will create new opportunities for developing personalized nutrition strategies that will help in the management and prevention of chronic health conditions.  The research and development pipeline will encompass other areas of strategic interest for Nestle Health Science, such as metabolic conditions, brain health and oncology.

Prometheus was founded in 1995 and has had the support of institutional ownership including DLJ Merchant Banking Partners, SPVC (managed by Split Rock Partners), Sprout Group (sub-advised by New Leaf Venture Partners), Apax Partners, Pamlico Capital and Brentwood Venture Capital. The transaction is conditioned upon the tender of at least a majority of the shares of Prometheus in the tender offer, receipt of regulatory approvals and other customary closing conditions. The transaction is expected to close early in the third quarter of this year.

Goldman Sachs is serving as financial advisor to Prometheus and Latham & Watkins is serving as Prometheus' legal advisor.

About Prometheus

Prometheus Laboratories Inc. is committed to improving lives through the development and commercialization of novel pharmaceutical and diagnostic products that enable physicians to provide greater individualized patient care. Prometheus is a leader in applying the principles of personalized medicine to the diagnosis and treatment of gastrointestinal diseases and is applying these principles to oncology. Its strategy includes the marketing and delivery of pharmaceutical products complemented by proprietary diagnostic testing services. By integrating therapeutics and diagnostics, Prometheus believes it can provide physicians with more targeted solutions to optimize care for their patients. Prometheus' corporate offices are loca
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SOURCE Prometheus Laboratories Inc.
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