Tuesday, July 17, 2012

Life Technologies Buys Navigenics

Carlsbad-based life sciences equipment maker Life Technologies announced late Monday that it has acquired Navigenics, a venture-backed genetics diagnostic testing firm and lab. Navigenics was venture backed by Kleiner Perkins Caulfield and Byers, Mohr Davidow Ventures, and The Procter & Gamble Company. Financial terms of the buy were not disclosed. Life Technologies said the acquisition is its first step in bulidling out its molecular diagnostics business. Navigenics provided personalized genomics and DNA testing services, and was co-founded by Dr. David Agus, professor of Medicine and Engineering at the University of Southern California. Navigenics was founded in 2006.