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Print Edition StoriesMonday, December 14, 2009
Caliper closes $11M sale of XenBio subsidiary
By Mass High Tech staff
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Caliper Life Sciences Inc., a Hopkinton-based provider of life sciences research tools and services, has completed the sale of its subsidiary, Xenogen Biosciences Corp. (XenBio), to Taconic Farms Inc. for about $11 million in cash. Taconic Farms is a rodent provider for the life sciences industry.
Caliper, which bought XenBio in 2006 through its acquisition of Xenogen Corp., said the sale was prompted by the company’s strategy to invest more in its core assets of IVIS instrumentation. About 90 percent of XenBio is focused on animal production and phenotyping services, Caliper officials said.
After transaction costs, Caliper expects to receive about $9 million in the fourth quarter from the sale, with the possibility of further payments stemming from the company’s distribution and supply agreements over its LPTA mouse models and imaging services.
Due to the completion of the sale, Caliper increased its expected fourth quarter revenue guidance from $33 million to $35 million.
Caliper (Nasdaq: CALP) tests pharmaceutical drug interactions, using in vitro biochemical assays, with chemicals in the environment, people and animals.
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