Invitrogen Acquires Cell Expansion Technology and Provides Forecast
Seattle, WA and Carlsbad, CA- Invitrogen has agreed to acquire Xcyte Therapies’ cell expansion technology, including intellectual property, clinical data, raw materials and equipment, for $5 million in cash. In addition, Xcyte will also be entitled to a percentage of sublicensing revenue related to the intellectual property for therapeutic applications. “To Invitrogen, this transaction represents a cornerstone in a broader effort to substantially increase our offering to customers working within immunotherapy,” said Dr. Oystein Amellem, business area manager for Invitrogen’s Dyanl Bead Based Separation group. At its December 9th guidance conference, Invitrogen forecasted that its 2006 sales will grow 12%-14% to $1.33-$1.35 billion, including organic growth of 6%-8%, and that pro forma earnings per share is expected to increase 14%-20% to $3.90-$4.10. In 2005, sales are forecasted to grow more than 16%, including 6% organic growth.