UniSyn Fibertec Corp., has signed a letter of intent to acquireBioProbe International Inc. of Tustin, Calif., a manufacturer ofaffinity chromatography products for the purification ofmonoclonal antibodies and related protein-based products.
UniSyn President Stan Yakatan said the acquisition was part ofthe company's strategy to become a fully integrated biotechsupply company.
A final stock purchase agreement is expected to be signed inabout a month, said Manfred Wolff, BioProbe's vice presidentfor research and development. American Cyanamid ownsBioProbe debentures worth $1 million and about 25 percent ofBioProbe's stock, which would be converted to UniSyn stock.
Dr. That Ngo, BioProbe chairman and chief executive, wouldjoin UniSyn as senior vice president for bioseparations anddiagnostics. BioProbe President Raphael Wong would becomeUniSyn vice president of business development.
San Diego-based UniSyn, which is 48 percent owned bySynbiotics Corp. (NASDAQ:SBIO), is developing mammalian-cellculture products. -- KH
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