APPLIED IMAGING ACQUIRES BIOLOGICAL VISIONApplied Imaging Corp. (AIC) of Santa Clara, Calif., has acquiredBiological Vision Inc. (BVI) of San Mateo, Calif.
BVI develops and markets computer imaging systems for thequantitative analysis of gel electrophoresis and otherprocedures used in DNA and protein analysis.
The acquisition facilitates AIC's entry into the molecularbiology instrumentation field, said Stephen Rudy, vicepresident of marketing at AIC. He declined to disclose terms ofthe deal.
AIC manufactures SpeedReader, an instrument for reading DNAsequence gels, and plans to introduce in April a system for theanalysis of two-dimensional gels used in protein research. AICalso manufactures cytogenetics instruments to analyzechromosomes in pre-natal and cancer diagnostics.
TREDEGAR BUYS 214,000 SHARES OF CTA
Tredegar Industries of Elmsford, N.Y., has recently purchasedsome 214,000 shares of common stock in Clinical TechnologiesAssociates Inc. for $7 a share, for a total equity investment of$1.5 million. Tredegar (NYSE:TG) has options and warrants topurchase up to $5.25 million more in CTA stock(NASDAQ:CTAI/CTAIW and BSE:CLN/CLNW) over the next threeyears, although the agreement between the companies limitsTredegar's ownership of CTA to 20 percent.
CTA is developing proprietary proteinoid technology for oraldrug delivery. Tredegar, a diversified manufacturer of plasticand aluminum products, is negotiating for a license for at leastone non-medicinal application of the CTA technology.
MERIDIAN COMPLETES EUROPEAN PURCHASE
Meridian Diagnostics Inc. of Cincinnati on Wednesday said ithas completed its purchase of the remaining 25 percent ofMeridian Diagnostics Europe s.r.l. (MDE) from the managingdirector of MDE in exchange for 50,000 shares of Meridian'scommon stock (NASDAQ:KITS) and future stock options. Thecompany also said it will pay its first quarterly dividend, oftwo cents a share, on March 11.
MEDCO BEGINS TRADING ON ASE
Medco Research Inc. of Los Angeles today began trading on theAmerican Stock Exchange under the symbol MRE. Trading ofthe company's stock on the NASDAQ exchange under thesymbol MEDR ceased at the market close on Wednesday. Medcodevelops drugs for the diagnosis and treatment ofcardiovascular diseases.
ORGANOGENESIS' CHAIRMAN RETIRES
Dr. Eugene Bell, Organogenesis Inc.'s chairman, president andchief scientific officer, has retired, the company announced thisweek. Bell will remain on the board of directors and will serveas scientific adviser to the company, based in Cambridge, Mass.
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