Life Technologies to purchase Ion Torrent
20 August 2010 00:00 in Scientific
Life Technologies, operator of the Applied Biosystems and Invitrogen brands, is expanding its presence in the sequencing sector with the takeover of Ion Torrent.
The science company has agreed a $375 million (242.1 million pounds) deal to purchase Ion Torrent, which is known for innovative DNA sequencing technology that synchronises chemical and digital information.
Life Technologies now intends to use the firm's proprietary chip-based sequencing systems to create the Personal Genome Machine, a user-friendly new benchtop sequencing unit which is set for release later this year.
Gregory Lucier, chairman and chief executive officer of Life Technologies, stated that Ion Torrent's innovations will help to herald a "profound change" in life science research.
"This technology will usher in a new era in science, one in which DNA sequencing can be done easier, faster and more cost effectively than ever before," he said.
Last month, the company published its financial report for the second quarter of 2010, with Mr Lucier noting "sustained organic growth" for the firm in the last three months.
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