Invitrogen Acquires Cascade Biologics
Cascade Biologics’ products should be a useful addition to Invitrogen’s GIBCO cell culture business. Mr. Lucier also indicated that Invitrogen is likely to make similar “tuck-in” acquisitions during the year.
Carlsbad, CA 5/1/07—Invitrogen announced in its first quarter conference call that it has purchased Cascade Biologics. The company, based in Portland, Oregon, produces primary human cell culture systems and reagents for use in basic research, cosmetics testing and cell therapy. According to Gregory Lucier, CEO and chairman of Invitrogen, the acquisition “sets us up for some very exciting offerings in the future.” Terms of the deal were not specified, and Cascade Biologics’ products will continue to be sold through Cascade Biologics’ offices until further notice.
