Pall Corp. (NYSE: PLL) has acquired GeneSystems, a French developer of a molecular diagnostics platform. No financial terms were disclosed. GeneSystems had raised around $5 million in VC funding since 2003, from CVC Enterprises, Endeavour Vision SA and XAnge Private Equity.
PRESS RELEASE
Pall Corporation (PLL), a global leader in filtration, separation and purification, announced today the purchase of GeneSystems, a privately held French biotechnology company that has developed a unique, easy-to-use and cost-effective molecular diagnostics platform.
The acquisition of GeneSystems, with its patented approach to rapid microbiological detection equipment and disposables, expands Pall's Total Fluid ManagementSM (TFM) capabilities in the $1 billion biopharmaceuticals process monitoring market. The acquisition also presents Pall with new opportunities in its environmental, food and beverage and water markets.
Process monitoring includes the analytical tests required during biopharmaceuticals manufacturing for environmental monitoring, in-process control testing and finished product release testing. These tests are receiving increased regulatory scrutiny and support under initiatives such as Process Analytical Technology (PAT).
Founded in 2000 in
“We are excited by this acquisition and the increased opportunities it presents for our pharmaceutical, biotechnology, environmental monitoring, quality control and diagnostics programs,” said Eric Krasnoff, Pall Corporation Chairman and CEO. “Customers seek better tools for rapid testing and process monitoring. GeneSystems expands our ability to provide Total Fluid Management to meet customer's raw materials, production, testing and environmental requirements. GeneSystems' unique technologies complement Pall's markets and global reach.”
“It is wonderful to join Pall and have the opportunity to expand on a global scale the very significant customer advantages that our team has achieved, diligently and creatively, during the last few years,” said Darryl Spurling, CEO of GeneSystems.
About Pall Corporation
Pall Corporation is the global leader in the rapidly growing field of filtration, separation and purification. Pall is organized into two businesses: Life Sciences and Industrial. These businesses provide leading-edge products to meet the demanding needs of customers in biotechnology, pharmaceutical, transfusion medicine, energy, electronics, water purification, aerospace, transportation and broad industrial markets. Total revenues for fiscal year 2007 were $2.2 billion. The Company is headquartered in East Hills, New York and has extensive operations around the world. For more information visit Pall at http://www.pall.com.
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