Cell Biosciences expands its protein analysis business with Protein Forest acquisition

Cell Biosciences, Inc. today announced that it has acquired Protein Forest, Inc. of Lexington, Massachusetts, a leader in sample preparation technology for proteomic analysis and biomarker discovery. This strategic acquisition adds Protein Forest's novel digital ProteomeChip(TM) product line to Cell Biosciences' expanding portfolio of innovative products for protein analysis.

Protein Forest, founded in 2002, pioneered a new technology for rapid, highly reproducible protein fractionation of complex biological samples - an important prerequisite step for quantitative proteomics measurements. The technology can be used as a sample preparation front-end for many protein analysis techniques, including western blot analysis, mass spectrometry, and the Cell Biosciences' nanoproteomic platforms. The digital ProteomeChip product line includes instrumentation, software, reagents, and proprietary consumables.

Cell Biosciences is a private life sciences company focused on defining the future of protein analysis. The company's products include novel nanofluidic assay systems for ultrasensitive protein analysis, and a complete line of leading digital imaging systems for proteomic and genomic research. Cell Biosciences has approximately 100 employees in North America, Europe and Asia, and its products are sold in more than 40 countries.

Commenting on the transaction, Tim Harkness, President and Chief Executive Officer of Cell Biosciences, said, "This acquisition adds an exciting sample preparation product line to our growing protein analysis business. The lack of reproducible sample preparation has become a serious problem for proteomics researchers. We believe that the digital ProteomeChip products represent a powerful solution for this market need. The digital ProteomeChip product line fits perfectly with our strategic plan and will be leveraged immediately by our global distribution organization."

In connection with the all-stock acquisition, Cell Biosciences raised an additional $4 million in an equity financing, led by Novo A/S.