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CARLSBAD, CA—(BUSINESS WIRE)—January 10, 2008 —
Invitrogen Announces Acquisition of CellzDirect
CellzDirect, a Market Leader in Hepatocyte-Based Primary Cell Products and Services
CARLSBAD, Calif.--(BUSINESS WIRE)--Jan. 10, 2008--Invitrogen Corporation (NASDAQ:IVGN), a provider of essential life
science technologies for research, production and diagnostics, today announced it has entered into a definitive agreement
to purchase privately-held CellzDirect, Inc., based in Research Triangle Park, North Carolina, in a cash transaction for
approximately $57 million.
CellzDirect provides hepatocyte-based cell products and related services used in the testing of new drugs. Primary human
hepatocytes are the most accepted model for predicting a compound's effects on enzymatic metabolism in the liver. Such
testing, recommended by the Food and Drug Administration (FDA), can prevent costly failures in clinical trials. For this
reason, CellzDirect's products are mainly used by pharmaceutical and biotech companies in research and development.
Primary hepatocytes are also used in biomedical research to study liver diseases and to understand downstream implications
of cellular function.
"CellzDirect's high-value products and services will greatly complement Invitrogen's market-leading portfolio of complete
cell systems, including primary cells, media, matrices and growth factors," said Greg Lucier, Invitrogen's Chairman and
Chief Executive Officer. "The purchase of CellzDirect follows our strategy of investing in high growth areas of the market,
specifically specialty cell systems."
"CellzDirect has distinguished itself from other primary cell providers through scientific leadership, consultation with
scientific and industry leaders, and constant communication with the medical community and regulatory bodies," added Nicolas
Barthelemy, Invitrogen's Senior Vice President, Cell Systems.
CellzDirect was founded in 2001 and employs approximately 90 people at its sites in North Carolina and Austin, Texas.
Twelve month revenue for calendar year 2007 is expected to be approximately $18 million.
"Combining with Invitrogen will enhance our already strong position in the primary cell market," said Scott Edelman,
CellzDirect's Chief Executive Officer. "We expect CellzDirect's growth rates to benefit from cross-promotion and combination
with Invitrogen's technologies for cell culture, molecular biology, and fluorescent detection, and from Invitrogen's
world-class sales, marketing, and distribution capabilities."
The transaction is subject to customary closing conditions and is expected to close in the first quarter. The acquisition
is expected to be EPS neutral in fiscal year 2008, becoming accretive in fiscal year 2009.
About Invitrogen Corporation
Invitrogen Corporation (NASDAQ: IVGN) provides products and services that support academic and government research institutions and pharmaceutical and biotech companies worldwide in their efforts to improve the human condition. The company provides essential life science technologies for disease research, drug discovery, and commercial bioproduction. Invitrogen's own research and development efforts are focused on breakthrough innovation in all major areas of biological discovery including functional genomics, proteomics, bioinformatics and cell biology -- placing Invitrogen's products in nearly every major laboratory in the world. Founded in 1987, Invitrogen is headquartered in Carlsbad, California, and conducts business in more than 70 countries around the world. The company employs approximately 4,700 scientists and other professionals and had revenues of more than $1.15 billion in 2006. For more information, visit www.invitrogen.com.
About CellzDirect, Inc.
CellzDirect, Inc. is a privately held bioscience company that was founded in 2001 and employees approximately 90 people at its sites in North Carolina and Austin, Texas. CellzDirect provides bio/pharmaceutical companies with quality cell products and services focused primarily on drug metabolism, drug-drug interactions and drug transporters. With CellzDirect's support, scientists are better able to conduct research that accelerates the discovery and development of safe and effective drugs. For additional information, please refer to the company's web site at www.cellzdirect.com or call 1-866-95CELLZ.
Safe Harbor Statement
Certain statements contained in this press release are considered "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, and it is Invitrogen's intent that such statements be protected by the safe harbor created thereby. Forward-looking statements include, but are not limited to: 1) CellzDirect's high-value products and services will greatly complement Invitrogen's market-leading portfolio of complete cell systems, including primary cells, media, matrices and growth factors, and 2) Combining with Invitrogen will enhance CellzDirect's already strong position in the primary cell market. Potential risks and uncertainties include, but are not limited to the risks: a) CellzDirect's growth rates may not benefit from cross promotion and combination with Invitrogen's technologies and b) CellzDirect's acquisition may not lead to growth for Invitrogen or CellzDirect in the primary cell market as well as other risks and uncertainties detailed from time to time in Invitrogen's Securities and Exchange Commission filings.
CONTACT: Invitrogen Corporation
Amanda Clardy, Vice President, Investor Relations
760-603-7200
amanda.clardy@invitrogen.com
or
Farnaz Khadem, Director, Corporate Communications
760-603-7245
farnaz.khadem@invitrogen.com
SOURCE: Invitrogen Corporation
DURHAM, NC — January 9, 2008 — CellzDirect unveils its New Website
CellzDirect announced today that it has launched its new website, www.cellzdirect.com to provide customers with the latest information on the company and its offering. Designed for easy navigation, the site includes updated scientific content regarding CellzDirect’s products and services for in vitro discovery and development, as well as extensive information about the company and its scientific and administrative teams. Visitors to the site are encouraged to send comments to info@cellzdirect.com.
DURHAM, NC — January 9, 2008 — CellzDirect is moving to New Corporate Headquarters in Durham, NC this month
This month, CellzDirect is moving its North Carolina Division to new headquarters near the Research Triangle Park in North Carolina, several minutes from the RDU airport. The recently completed 30,000 square foot facility will house corporate offices, new cell culture laboratories, and product support operations. The laboratories have been designed from the ground up to optimize the efficiency and workflow for cell culture work and will enable further enhancement and future innovative development of CellzDirect’s product and services offering.
PITTSBORO, NC — September 18, 2007 —GenoMembrane selects CellzDirect as exclusive North American distributor for transporter products
CellzDirect, Inc., the leading provider of hepatic cell products and contract in vitro laboratory services, based in Pittsboro, North Carolina, and GenoMembrane, a leader in the development and commercialization of novel drug transporter products, headquartered in Yokohama, Japan, announced today that the companies have formed an alliance in which CellzDirect will be the exclusive commercial provider for GenoMembrane products for the North American market. Financial details were not disclosed.
“Determining hepatic disposition and transporter-mediated drug interactions early in drug development is becoming a more and more crucial component for pharmaceutical scientists,” said Dr. Jasminder Sahi, senior scientist and noted drug transporter expert at CellzDirect. Dr. Edward LeCluyse, Chief Scientific Officer at CellzDirect states, “GenoMembrane’s ABC and SLC transporter products demonstrate superior reproducibility and more consistent results compared to similar commercially-available technologies. GenoMembrane has successfully developed a new line of vesicles and membranes that eliminate the background activity issues and instability of older generation products available today. We are very excited to add GenoMembrane’s technologies to our existing product portfolio.”
“We are delighted to be partnered with CellzDirect and are excited to now have our products available for commercial use in North America”, said Dr. Hikaru Yabuuchi, GenoMembrane President & CEO. “CellzDirect has proven expertise with cell products and tremendous experience in the drug transporter arena and our alliance will surely facilitate access of our product line to science customers who wish to purchase these.”
About GenoMembrane, Inc.
GenoMembrane was established as a bio-tech venture company in April 2002, by a cooperation of scientists in the ADME arena. GenoMembrane supports drug development by using their vast expertise and experience to produce ABC transporter membranes and vesicles, which are prepared from insect Sf9 cells expressing ABC transporters, and ATPase assays and vesicular transport assays.
About CellzDirect, Inc.
CellzDirect, Inc. is a privately held bioscience company that provides bio/pharmaceutical companies with quality cell products and contract laboratory services focused primarily on drug metabolism, drug-drug interactions, and drug transporters. With CellzDirect’s support, scientists are better able to conduct research that accelerates the discovery and development of safe and effective drugs. For additional information, please refer to the company's web site at www.cellzdirect.com or call 1-866-95CELLZ.
PITTSBORO, N.C. — August 22, 2007 —CellzDirect selects Daiichi Pure Chemicals Co. as exclusive distributor for its products in Japan
CellzDirect signed an exclusive distribution agreement with Daiichi Pure Chemicals Co., Research Products Division to provide CellzDirect products to the Japanese market. Having successfully established itself as a leading provider of in vitro hepatic cell products and services in the U.S and Europe, CellzDirect's management team decided to introduce the company and its product offering to the Japanese pharma market in 2007 and through a careful selection process chose to partner with Daiichi Pure Chemicals, Research Products Division. CellzDirect will work closely with Daiichi to provide the highest quality hepatic cell products in Japan, with particular focus on cryopreserved human hepatocytes.
About Daiichi Pure Chemical Co.
Daiichi Pure Chemical Co., Research Products Division focuses it business activities on the manufacture of separation and analysis equipment for proteins and nucleic acids and the distribution of advanced instruments and reagents supporting genome research, proteomics, cellular informatics, and new drug development.
About CellzDirect, Inc.
CellzDirect, Inc. is a privately held bioscience company that provides bio/pharmaceutical companies with quality cell products and contract laboratory services focused primarily on drug metabolism, drug-drug interactions, and drug transporters. With CellzDirect’s support, scientists are better able to conduct research that accelerates the discovery and development of safe and effective drugs. For additional information, please refer to the company's web site at www.cellzdirect.com or call 1-866-95CELLZ.
PITTSBORO, NC — March 26, 2007 — CellzDirect Scientists Present Data at the 46th Annual Society of Toxicology Meeting in Charlotte, NC
CellzDirect has announced that two of its scientific staff will present the findings of their recent aquatic metabolism studies at the upcoming Society of Toxicology Meeting in Charlotte, North Carolina on March 26-29, 2007. LaHoma Easterwood, Ph.D. and Karla Johanning, Ph.D. will present data derived from studies conducted at CellzDirect's new research and development section, Aquatic Metabolism.
Dr. Easterwood will present “Comparison of In Vitro Phase I and II Metabolic Activity Assays Between Rainbow Trout (Oncorhynchus mykiss) and Human Hepatic Microsomes and S9 Fractions,” Abstract/Poster # 1893-104, on March 29 from 8:30 AM to 12:00 PM in Ballroom A and B (Charlotte Convention Center).
Dr. Johanning will present “Effect of BDE-47 on Hepatic Drug Metabolizing Enzymes in Isogenic Trout Treated Over Two Generations,” Abstract/Poster # 851-328, on March 27 from 9:00 AM to 12:30 PM in the Exhibit Hall (Charlotte Convention Center).
Those unable to attend these informative talks are invited to use the links below to view the posters. CellzDirect also invited conference attendees to visit their booth (#1833).
Comparison of In Vitro Phase I and II Metabolic Activity Assays Between Rainbow
Trout (Oncorhynchus mykiss) and Human Hepatic Microsomes and S9 Fractions
Effect of BDE-47 on Hepatic Drug Metabolizing Enzymes in Isogenic Trout Treated
Over Two Generations
AUSTIN, TX — February 28, 2007 — CellzDirect Announces the Completion of Expansion on its GLP Lab in Austin Texas
Today, CellzDirect announced official completion of the expansion of its Good Laboratory Practices (GLP) Services Lab in Austin, Texas. The development added an additional 5000 square feet of lab space to the original facility, extending its analytical and culturing laboratories and adding a new high-throughput services laboratory. The new space will improve CellzDirect’s through-put capacity and allow it to offer new services.
