Caliper Life Sciences to acquire Xenogen

By Lisa Kerner

Erie, Pa., Feb. 13 - Caliper Life Sciences, Inc. and Xenogen Corp. announced their definitive agreement to merge.

Under the agreement, Caliper will issue common stock and warrants, currently valued at about $80 million, in exchange for all of Xenogen's equity securities outstanding at the closing, according to a company news release. Immediately following the closing, Xenogen stockholders will own about 26% of Caliper's outstanding common stock.

The combination of Caliper's proprietary microfluidic technology and automation expertise with Xenogen's proprietary imaging technology addresses key research needs by creating molecular level solutions that encompass in vitro to in vivo research, the release stated.

"This transaction is a transformational event for Caliper," said Kevin Hrusovsky, Caliper president and chief executive officer, in the release.

"The acquisitions of Zymark and NovaScreen, organic growth of Caliper's LabChip products, and the financial turnaround of our company have set the stage for the merger with Xenogen. We are achieving our goal of building a unique company with first-mover advantage in bridging in vitro and in vivo experimentation."

Caliper, a provider of drug discovery solutions for the pharmaceutical and biotechnology industries, is based in Hopkinton, Mass.

Xenogen is an Alameda, Calif.-based biotechnology company offering an integrated suite of biophotonic real-time in vivo imaging and genetic modification technologies.

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