Carlsbad-based Life Technologies said Nov. 10 it has agreed to purchase BioTrove, a Massachusetts-based maker of high throughput gene expression and genotyping analysis systems.
Financial terms of the deal were not disclosed. Life Tech CEO Greg Lucier called the purchase “an important addition” to its extensive PCR portfolio.
Privately-held BioTrove, based in Woburn, Mass., withdrew its plans for an initial public offering last year. The company, which spun off of technologies at MIT, has received backing from venture capital firms Catalyst Health and Technology Partners, CB Health Ventures, Vox Equity, BioFrontier Partners, Echelon Ventures, Excel Venture Management and Fletcher Spaght Inc.
Life Technologies stock, traded on the Nasdaq as LIFE, hit a 52-week high Nov. 10. Shares traded as high as $50.77. In late trading shares stood at $50.21, up 34 cents from the previous day’s close. The stock’s 52-week range had been $19.56 to $49.99.
— Heather Chambers