Boston Biomedica Inc. said Monday that it acquired in a cashtransaction a division of Cambridge Biotech Corp. that providescontract research and testing services to the NIH and theDepartment of Defense, among other clients.
Cambridge Biotech's (NASDAQ:CBCX) contract and servicesdivision had been acquired as part of the 1990 merger of CBCof Worcester, Mass., with Biotech Research Laboratories Inc.
The purchase price, terms of the deal and sales of the acquireddivision were not disclosed. However, CBC's contract andservices division, based in Rockville, Md., has 35 employees,none of whom will lose jobs as a result of the acquisition,according to a Boston Biomedica spokesman.
The unit will operate as a wholly owned subsidiary of privatelyheld Boston Biomedica of West Bridgewater, Mass., under itsrestored name, Biotech Research Laboratories (BTRL).
"BTRL's molecular and cellular biology capabilities are acomplementary fit with BBI's serology and immunologyexpertise," said Richard T. Schumacher, BBI's president.
CBC said that the sale of the divestiture would not have asignificant effect on CBC's earnings. The contract research andtesting business no longer fits CBC's strategic focus indiagnostics and vaccine development, said Frederick V.Casselman, CTC's vice president of legal and regulatory affairs.
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