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Pall Acquires Chromatography Business from Ciphergen |
Pall Corporation (NYSE: PLL) today announced that it has completed the acquisition of the BioSepra Process Division from Ciphergen Biosystems, Inc. (Nasdaq: CIPH). The purchase price was $32 million, net of cash and debt. The BioSepra Process Division develops, manufactures and markets chromatography sorbents that greatly simplify protein purification for drug development and production.
Eric Krasnoff, Chairman and CEO of Pall Corporation, said, "The addition of this innovative, broad range of chromatography chemistries strengthens our ability to serve the needs of biotechnology customers. The marriage of BioSepra's capabilities and Pall's extensive existing product portfolio allows customers to benefit from a highly integrated 'Total Fluid Management' approach."
Pall plans to establish additional Process Proteomics Service Centers to assist customers in selecting and optimizing sorbents and membranes for the purification of proteins used in the production of therapeutic proteins and other bioprocess applications.
Pall and Ciphergen have also entered into a collaboration for process proteomics, based on the combination of Ciphergen's ProteinChip® technology and BioSepra’s leading chromatography products.
About Pall Corporation:
Pall Corporation is the global leader in the rapidly growing field of filtration, separations and purification. Pall's business is organized around two broad markets: Life Sciences and Industrial. The Company provides leading-edge products to meet the demanding needs of customers in biotechnology, pharmaceutical, transfusion medicine, semiconductor, water purification, aerospace and broad industrial markets. Total revenues are $1.8 billion. The Company headquarters are in East Hills, New York with extensive operations throughout the world. Visit Pall at www.pall.com.
This release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These statements are based on current Company expectations and are subject to risks and uncertainties, which could cause actual results to differ materially. Such risks and uncertainties include, but are not limited to: fluctuations in foreign currency exchange rates; regulatory approval and market acceptance of new technologies; changes in product mix and product pricing and in interest rates and cost of raw materials; the Company's success in enforcing its patents and protecting its proprietary products and manufacturing techniques; global and regional economic conditions and legislative, regulatory and political developments and its ability to achieve the savings anticipated from its cost reduction initiatives; and domestic and international competition in the Company's global markets. Additional information regarding these and other factors is available on the web at www.pall.com and is included in the Company's reports filed with the U.S. Securities and Exchange Commission. Copies of such reports can be obtained, without charge, at: www.sec.gov.