Issue Date: July 12, 2004
Synthetic DNA business sold
Dutch biotechnology company Qiagen has sold its synthetic DNA business to a management team for just under $25 million. The new company is backed by private investors; Qiagen will retain a 16% stake. The new company will be named Operon Biotechnologies, reflecting the name of the Operon Technologies business, based in Alameda, Calif., acquired by Qiagen in 2000. The buyout team is headed by Patrick A. Weiss, who founded Xeragon, acquired by Qiagen in 2002. His expertise is in nucleic acid chemistry and chemical synthesis operations.
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