CARLSBAD, Calif. & OSLO, Norway--(BUSINESS WIRE)--April 1, 2005--Invitrogen Corporation (Nasdaq:IVGN) today announced that it has completed its acquisition of Dynal Biotech. Invitrogen acquired Dynal from majority owner Nordic Capital and a co-investor in a cash transaction totaling approximately 2.5 billion NOK, or approximately $391 million, based on foreign currency forward contracts executed previously by Invitrogen. Dynal is the industry leader in magnetic bead technologies that are used in cell separation and purification, cell stimulation, protein research, nucleic acid research and microbiology and is now a wholly-owned subsidiary of Invitrogen. The acquisition enables Invitrogen to apply the Dynal technologies across Invitrogen's broad product portfolio. This combination has applications in numerous areas of research, including stem cell and cell therapy applications, as well as in products that support molecular diagnostics, and other key areas of research.
Invitrogen Corporation (Nasdaq:IVGN) provides products and services that support academic and government research institutions and pharmaceutical and biotech companies worldwide in their efforts to improve the human condition. The company provides essential life science technologies for disease research, drug discovery and commercial bioproduction. Invitrogen's own research and development efforts are focused on breakthrough innovation in all major areas of biological discovery, including functional genomics, proteomics, bioinformatics and cell biology -- placing Invitrogen's products in nearly every major laboratory in the world. Founded in 1987, Invitrogen is headquartered in Carlsbad, and conducts business in more than 70 countries around the world. The company globally employs approximately 4,000 scientists and other professionals and had revenues of more than $1 billion in 2004. For more information, visit www.invitrogen.com
CONTACT: Invitrogen Corporation
Adam Taich, 760-603-7267
SOURCE: Invitrogen Corporation