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Print Edition StoriesMonday, December 7, 2009
Protein Forest acquired by Cell Biosciences
By Mass High Tech staff
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Protein Forest Inc., a mass spectrometry firm in Lexington, has been bought in an all-stock acquisition by California protein analysis-focused firm Cell Biosciences Inc.
Founded in 2002, Protein Forest develops its digital protein separation technology, ProteomeChip, that is “a prerequisite step for quantitative proteomics measurements,” according to a release from its new owner Cell Biosciences. The company landed $1.5 million in 2007 to fund beta tests of its ProteomeChip system. In 2003, Protein Forest pulled in $14 million in a Series A/B round intended to help fund the launch of the ProteomeChip technology.
“The lack of reproducible sample preparation has become a serious problem for proteomics researchers,” said Cell Biosciences president and CEO Tim Harkness in a press release. “We believe that the digital ProteomeChip products represent a powerful solution for this market need.”
No financial terms of the deal were disclosed.
The acquisition deal also aided Cell Bioscience’s $4 million equity funding from Novo A/S.
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