Invitrogen to acquire Sentigen for $25.9 million

By Elaine Rigoli

Tampa, Fla., Sept. 1 - Invitrogen Corp. will acquire Sentigen Holding Corp. in a cash transaction at a price of $3.37 per share, or $25.9 million, for all shares currently issued and outstanding.

As of June 30, Sentigen had cash and cash investments on its books valued at about $11.7 million and debt of $0.8 million.

Invitrogen, located in Carlsbad, Calif., said Sentigen's proprietary Tango assay system and division arrested Assay Ready Cells will bolster the company's position in assay development by providing a novel approach to screen G-protein coupled receptors and other key drug target classes, as well as providing a methodology to convert live cell assays into ready-to-use consumable products.

Phillipsburg, N.J.-based Sentigen will become a part of Invitrogen's Discovery Sciences Business based in Madison, Wis.

"The synergy created by combining Invitrogen's cell and molecular biology products with Sentigen's cell-based technologies and custom services enhances our strategic commitment to scientists engaged in cell-based drug discovery by offering our clients comprehensive solutions and support," Sentigen president and chief executive officer Tom Livelli said in a news release.

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