HOPKINTON and WOBURN, Mass., Dec. 9, 2010 /PRNewswire-FirstCall/
— Caliper Life Sciences, Inc. (Nasdaq:
CALP), a leading provider of products and services for drug
discovery research, today announced that it has entered into a
definitive agreement to acquire privately-held Cambridge Research
& Instrumentation, Inc. (CRi) for approximately $20.0 million,
including net debt. CRi’s patented preclinical and
tissue-based multiplexed analysis systems will expand Caliper’s
life sciences tools portfolio, particularly as it bridges into
clinical research, pathology and clinical market applications.
Under the agreement, in exchange for all of CRi’s outstanding
equity securities, Caliper will issue common stock valued at
approximately $10.5 million, pay cash of approximately $7.5
million, and assume CRi indebtedness of approximately $2.0 million.
CRi’s revenues are expected to be approximately $12.0 million
in 2010 and the technology should deliver a 20%+ growth rate upon
reconfiguration and integration into Caliper’s portfolio and
operations. Ultimately, Caliper’s entry into the emerging
digital and multiplexed pathology market segment has the potential
to deliver a substantially greater growth profile.
“CRi’s advanced platforms add an important new dimension of
capability to our suite of next-generation life science tools, and
positions Caliper to further address biomarker discovery and
companion diagnostics solutions for personalized medicine
development programs,” said Kevin Hrusovsky, President and CEO of
Caliper Life Sciences. “This acquisition extends the reach of
Caliper’s proprietary offerings along the in vitro to in vivo
bridge by filling the gap in tissue analysis platforms.
Similar to the approach we used in our successful
commercialization of other disruptive technologies such as
microfluidic LabChips and whole animal optical