UPDATE 1-Roche to buy CuraGen unit for up to $154.9 mln
(Adds more details)
ZURICH, March 29 (Reuters) - Swiss drugmaker Roche (ROG.VX) said on Thursday it had agreed to buy 454 Life Sciences Corp. from CuraGen CRGN.O for up to $154.9 million.
Roche will pay 454's shareholders $140 million in cash. They may also receive a further $14.9 million in cash from holders of currently outstanding stock options and warrants, if these are exercised, Roche said in a statement.
The acquisition will give Roche access to 454's future generations of sequencing products and use of 454 Sequencing for in-vitro diagnostics applications.
"This acquisition is part of our strategy to strengthen our position as a major player in the sequencing market," Severin Schwan, chief executive of Roche Diagnostics, said in a statement.
Roche plans to maintain 454's facility in Branford, Connecticut and its 167 employees as a fully integrated part of its diagnostics division.
((Reporting by Sam Cage, editing by Greg Mahlich; e-mail: zurich.newsroom@reuters.com Reuters Messaging: sam.cage.reuters.com@reuters.net telephone: +41 (0) 44 631 7457)) Keywords: CURAGEN ROCHE/
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