Roche Diagnostics buys genome company

March 29, 2007

Indianapolis-based Roche Diagnostics has acquired a firm that develops genome-sequencing systems, the company announced today.

Roche Diagnostics’ parent, Switzerland-based Roche, paid $140 million in cash to scoop up 454 Life Sciences, a subsidiary of Connecticut-based CuraGen Corp.

Roche Diagnostics, which already distributes 454 Life Sciences’ genome sequencing systems, now gets access to any future generations of the sequencing products, the company said.

Roche plans to maintain 454 Life Sciences’ 167-person facility in Branford, Conn.

The transaction does not require shareholder approval, but Roche might have to dole out another $15 million in cash to pay off stock options held by shareholders of 454 Life Sciences.

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