QIAGEN (QGENF) - Star of Germany's Biotechs Message Board

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Biotech / Medical : QIAGEN (QGENF) - Star of Germany's Biotechs

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From: JakeStraw	7/1/2008 8:08:02 AM
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QIAGEN Acquires Corbett Life Science biz.yahoo.com Tuesday July 1, 2:00 am ET Transaction Adds Proprietary Real-Time PCR Detection Technologies to QIAGEN's Portfolio of Molecular Testing Solutions VENLO, The Netherlands, July 1, 2008 (PRIME NEWSWIRE) -- QIAGEN N.V. (NasdaqGS:QGEN - News) (Frankfurt:QIA.F - News) today announced that it has acquired Corbett Life Science Pty. Ltd. (Corbett), a privately-held developer, manufacturer, and distributor of life sciences instrumentation headquartered in Sydney, Australia. The transaction is valued at approximately US$66 million in cash (subject to certain customary purchase price adjustments), US$4 million in restricted QIAGEN common stock and performance and development milestone payments and other contingencies of up to approximately US$65 million over the next four years. Corbett is best known for having developed the world's first rotary real-time PCR cycler system -- the Rotor-Gene(tm) -- a system used to detect real-time polymerase chain reaction (PCR) reactions which make specific sequences of DNA and RNA targets visible through amplification and quantifiable through real-time measurement of such amplification. The addition of this proprietary PCR detection technology extends QIAGEN's molecular testing solution portfolio and enhances QIAGEN's options to offer sample and assay technology solutions spanning from sample to result.

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