Pall Corp., the Port Washington-based filtration company, announced plans Monday morning to acquire ForteBio, Inc., of Menlo Park, Calif., a provider of advanced analytical systems that accelerate the discovery and development of biotech drugs.
Terms of the deal, which is expected to close by February, were not disclosed.
ForteBio offers an array of protein analysis instruments that Pall said will extend Pall’s capabilities in the $1 billion biopharmaceuticals process monitoring market and in the protein research market. ForteBio’s analytical solutions allow researchers to measure proteins in real time without the aid of fluorescent, radio or calorimetric labels or markers that can contaminate samples, Pall said. This enables significantly easier, faster and better characterization of drug candidates, which can help improve process development and speed time to market.
Pall chief executive and president Larry Kingsley said in a statement, "The addition of ForteBio’s platforms into our business reinforces Pall’s commitment to helping customers get their life-changing products to market safely and on time."
ForteBio will become a wholly owned subsidiary of Pall Corp. In the short term, the impact to Pall’s results of operations will be immaterial, Pall said.
Pall is one of Long Island's largest companies, with 500 workers on the Island and more than 10,000 employees overall. Its filtration technologies are used to separate impurities from water, beer, wine, oil, blood and other substances.
Photo: Larry Kingsley, Pall chief executive and president.