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Caliper Life Sciences has announced it will sell two product lines to Sweden-based Biotage AB for $16.5 million in cash and $500,000 in liabilities. Caliper and Biotage have entered into a long-term manufacturing agreement in which Caliper will continue to manufacture products for Biotage.
Officials at the Hopkinton-based provider of tools and services for drug discovery said that the deal strengthens the company’s focus and adds capital for core functions. Eight employees affected by the divestiture will be offered jobs at Biotage.
Company officials said proceeds from this sale will “enhance Caliper’s capability to make additional investments in the high-growth markets the company serves, including next-generation sequencing, biotherapeutics, molecular diagnostics and imaging.”
The two product lines are RapidTrace for testing food, drinks and urine for drugs and pollutants, and TurboVap, which is used to make more concentrated samples by evaporating organic solvents.
Caliper announced last week that it expanded a contract with the U.S. Environmental Protection Agency with a new funding commitment for $2.9 million.
The total value of Caliper’s contracts through the EPA’s ToxCast screening program now total $4.7 million.
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