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Invitrogen Corporation (Nasdaq:IVGN), a global leader in life sciences, today announced it has completed its acquisition of Sentigen Holding Corp. in a cash transaction at a price of $3.37 per share, or approximately $25.9 million. At close, Sentigen had cash and cash investments on its books valued at approximately $11 million. Sentigen will become a part of Invitrogen's Discovery Sciences business based in Madison, Wisconsin.Sentigen's proprietary Tango™ Assay System bolsters Invitrogen's leading position in assay development by providing a novel approach to screen G-protein coupled receptors (GPCR) and other key drug target classes, as well as providing a methodology to convert live cell assays into convenient, ready-to-use products. Sentigen's Assay Ready Cells™ technology is designed to improve the quality and consistency of cellular assays used in drug screening and reduce the need of customers to invest in costly cell culture infrastructure to support cell-based drug discovery.
Invitrogen does not expect this acquisition to have a material affect on its financials in fiscal year 2006.
For more information on Invitrogen's complete portfolio of GPCR biology products and services, please visit www.invitrogen.com/gpcr
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