Gen-Probe Pays $60M for Prodesse

Xconomy San Diego — 

San Diego’s Gen-Probe (NASDAQ: GPRO), which uses nucleic acid testing of blood samples to diagnose human diseases, says it has agreed to pay $60 million in cash to acquire Prodesse, a privately held medical diagnostics company in Waukesha, WI. Gen-Probe says it could eventually pay as much as $85 million if Prodesse meets certain financial and regulatory milestones through 2011. Prodesse specializes in a type of molecular testing known as PCR (polymerase chain reaction) to develop reagents that rapidly identify certain types of respiratory viruses, intestinal bacteria, and other infectious microbes.