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Business

Caliper Will Buy Novascreen

September 19, 2005 | A version of this story appeared in Volume 83, Issue 38
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Caliper Life Sciences is acquiring NovaScreen Biosciences for $22 million plus up to $8 million in milestone payments over a 30-month period. NovaScreen has developed more than 600 screening assays for drug candidates as well as software for a screening assay platform. Caliper CEO Kevin Hrusovsky cites "immediate opportunities in the growing secondary screening and profiling market" as a motivating factor for the deal. The companies point to heightened demand for safety profiling assays as a result of recent drug withdrawals and the trend by drug companies to outsource discovery activities that involve screening.

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