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Gen-Probe Pays $60M for Prodesse

Xconomy San Diego — 

San Diego’s Gen-Probe (NASDAQ: GPRO), which uses nucleic acid testing of blood samples to diagnose human diseases, says it has agreed to pay $60 million in cash to acquire Prodesse, a privately held medical diagnostics company in Waukesha, WI. Gen-Probe says it could eventually pay as much as $85 million if Prodesse meets certain financial and regulatory milestones through 2011. Prodesse specializes in a type of molecular testing known as PCR (polymerase chain reaction) to develop reagents that rapidly identify certain types of respiratory viruses, intestinal bacteria, and other infectious microbes.

Bruce V. Bigelow is the editor of Xconomy San Diego. You can e-mail him at bbigelow@xconomy.com or call (619) 669-8788 Follow @bvbigelow

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