| Thermo Acquires Ionalytics Corp. |
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September 14 2006 |
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Novel Mass Spectrometry Ion Filtering Devices Added to Thermo's Product Family |
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WALTHAM, Mass., August 10, 2005 -- Thermo Electron Corporation announced today that it has purchased Ionalytics Corporation, developer of a dynamic ion filtering device used with mass spectrometers in bioanalysis, proteomics and drug discovery. Financial terms of the transaction were not disclosed.
Marijn E. Dekkers, president and chief executive officer of Thermo Electron said, "Ionalytics has made significant strides in advancing the core technologies used in drug discovery, most notably a novel ion separation tool based on patent-protected FAIMS (High-Field Asymmetric Waveform Ion Mobility Spectrometry) technology. We believe that the addition of FAIMS will contribute tremendously to our customer's ability to push their detection limits, which is critical to accelerate drug discovery research. We will also continue to invest in several other promising initiatives currently underway at Ionalytics, as we build the most comprehensive mass spectrometry portfolio in the world."
When combined with liquid chromatography mass spectrometry (LC-MS), FAIMS technology helps resolve analytical method development challenges significantly faster and more easily. Based on this technology, Ionalytics created the Selectra, an ion separation tool that reduces chemical background noise, increases throughput and improves detection limits.
Founded in 2001, as a spin out from the National Research Council Canada, Ionalytics is based in Ottawa, Canada. Its customers consist of pharmaceutical development and manufacturing companies, as well as contract research organizations that assist major pharmaceutical companies in performing their bioanalytical measurements.
About Thermo Electron Corporation
Thermo Electron Corporation is the world leader in analytical instruments. Our instrument solutions enable our customers to make the world a healthier, cleaner and safer place. Thermo's Life and Laboratory Sciences segment provides analytical instruments, scientific equipment, services and software solutions for life science, drug discovery, clinical, environmental and industrial laboratories. Thermo's Measurement and Control segment is dedicated to providing analytical instruments used in a variety of manufacturing processes and in-the-field applications, including those associated with safety and homeland security. Based near Boston, Massachusetts, Thermo has revenues of approximately $2.7 billion, and employs approximately 11,000 people in 30 countries.
The following constitutes a "Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward- looking statements that involve a number of risks and uncertainties. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are set forth under the heading "Forward-Looking Statements" in the company's Quarterly Report on Form 10-Q for the fiscal quarter ended April 2, 2005. These include risks and uncertainties relating to: the need to develop new products and adapt to significant technological change; dependence on customers that operate in cyclical industries; general worldwide economic conditions and related uncertainties; the effect of changes in governmental regulations; dependence on customers' capital spending policies and government funding policies; use and protection of intellectual property; exposure to product liability claims in excess of insurance coverage; retention of contingent liabilities from businesses we sold; realization of potential future savings from new productivity initiatives; implementation of our branding strategy; implementation of strategies for improving internal growth; the effect of exchange rate fluctuations on international operations; identification, completion and integration of new acquisitions and potential impairment of goodwill from previous acquisitions. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise |
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