Packard BioScience to acquire GSLI Life Sciences
The GSLI Life Sciences acquisition positions Packard to be a leading provider of biochips and microarray analysis tools, a key enabling technology for post-genomics and drug discovery research. GSLI Life Sciences' laser detection and data analysis, which are necessary to extract results from microarray experiments, combined with Packard's novel biochip formats and patented production technology, will establish an integrated biochip and microarray production and analysis platform.
GSLI Life Sciences' ScanArray product line is a market leader in the fast-growing area of laser scanning for biochip and microarray analysis. Due to this market success, GSLI Life Sciences is expecting to grow approximately 50% yearly for the next several years on the basis of $17 million in revenues for the prior four quarters. GSLI Life Sciences' products are used in applications including single nucleotide polymorphism (SNP) detection, gene expression analysis, protein studies, and drug discovery.
"The acquisition of GSLI Life Sciences will position Packard among the top three global providers of biochip and microarray tools for genomic and proteomic analysis," said Emery Olcott, chairman and CEO of Packard BioScience. "In the post-genome era, DNA microarray and biochip technology must become widely available as cost-effective, bench-top research tools. Packard is poised to meet this need by developing low-cost, custom-designed products which combine Packard's proprietary Biochip Arrayer production technology with GSLI's ScanArray readers and bioinformatics software. The acquisition of GSLI is part of Packard's recently announced strategy to focus on the biotechnology side of our business."
Biochips containing microarrays of genetic information promise to be an important research tool in the post-genome era. They support highly parallel analysis needed to exploit the explosive growth in genetic information resulting from the sequencing of the human genome. Initial applications will be in drug discovery, pharmacology and clinical research. The emerging field of pharmacogenomics, which explores an individual's genetically determined response to drugs, is particularly expected to benefit from biochip analysis, eventually leading to mass diagnostic and personalized medicine applications. Other biochip applications will include forensics, toxicology, and epidemiological research.
"We are pleased to have Packard BioScience as a strategic buyer for our life sciences business," said Charles Winston, president and CEO of GSI Lumonics. "By combining our technology and talented employees with Packard's worldwide distribution network, Packard will continue to rapidly grow the business. The sale of our life sciences business is consistent with GSI Lumonics' previously announced strategy to focus resources on growth opportunities in our core markets of semiconductor, electronics, and automotive applications."
For more information: Packard Instrument Co., 800 Research Pkwy., Meriden, CT 06450. Tel: 203-238-2351. Fax: 203-639-2172.
Edited by Laura DeFrancesco
Managing Editor, Bioresearch Online