Cell Biosciences Inc. agreed to pay $12 million for Toronto-based Convergent Bioscience Ltd. in a deal expected to close by the end of the month.
Convergent Bioscience, which employs 45 people, makes imaging capillary electrophoresis equipment for protein charge heterogeneity characterization, a quality control measurement used during protein biologics production. The company is expected to pull in nearly $8 million in sales this year, according to a press release.
Inverness Medical Innovations Inc. and a research institute based in Morgantown, W.Va., are partnering up to develop and commercialize a diagnostic test for Alzheimer’s disease.
The Waltham-based diagnostics manufacturer will fund research and development of a test developed by researchers at the Blanchette Rockefeller Neurosciences Institute for three years, in exchange for the right to market the test once it’s ready — which could be as soon as 18 months, The Associated Press reports.