News

Gen-Probe offer to acquire Tepnel Life Sciences

California, US
Jan 30, 2009

Gen-Probe Incorporated announced its offering to acquire all the outstanding and to-be-issued shares of Tepnel Life Sciences, PLC. The board of directors’ of both companies have unanimously approved the transaction. Gen-Probe hopes that Tepnel's human leukocyte antigens (HLA) testing products will facilitate its diversification into the transplant typing market.

Hank Nordhoff, Gen-Probe's chairman and chief executive officer said, "We believe our acquisition of Tepnel will provide immediate access to attractive growth opportunities in transplant diagnostics, genetic testing and pharmaceutical services, as well as accelerate our ongoing strategic efforts to strengthen our marketing and sales, distribution and manufacturing capabilities in the rapidly growing European molecular diagnostics market. "We look forward to working with the employees and customers of Tepnel to broaden the use of their innovative technologies and amplify their many successes to date."

Ben Matzilevich, Tepnel's chief executive officer said, "We believe Gen-Probe's offer represents significant value for Tepnel shareholders, and recognizes both our past achievements and our future potential in molecular diagnostics and pharmaceutical services. "We are excited about the opportunity to accelerate our strategic plans as part of one of the most established and highly respected molecular diagnostics companies in the world."