Friday, July 11, 2008

PerkinElmer turns ViaCord into stem cell R&D arm

By Mass High Tech Staff

PerkinElmer Inc., a company focused on the health sciences and photonics markets, says it has begun efforts to further its research and development of stem cell-related products.

Waltham-based PerkinElmer (NYSE: PKI) has formed the ViaCord Research Institute, which will focus on using umbilical cord blood-derived stem cells for cord blood technologies, emerging stem cell therapies, genetic screening, product development and related transplants. PerkinElmer acquired its cord blood business through its $300 million buyout of Cambridge-based ViaCell Inc. in October 2007.

The institute will be led by Morey Kraus, chief technology officer of the ViaCord business, and advised by a board of researchers and ViaCord scientists.  

PerkinElmer, which employs 9,100 workers worldwide, reported 2007 net income of $131.7 million on revenue of $1.8 billion.