Corning, NY – Corning announced today that it has purchased labware maker Axygen BioScience for approximately $400 million.
Headquartered in Union City, CA, Axygen is a manufacturer and distributor of high-quality life sciences plastic consumable labware, liquid handling products, and bench-top laboratory equipment with operations in the United States, France, Poland, and China.
“Axygen’s product portfolio and established distribution network will significantly strengthen Corning’s life sciences platform and are critical components to our long-term growth strategy for this business,” said Peter F Volanakis, Corning’s president and chief operating officer.
Hemant Gupta, Axygen’s founder, will remain with the business, serving as president and chief executive officer, as will other key personnel of Axygen. Regarding this transaction, Gupta said, “We are very excited to be joining the Corning organization. Corning is a world leader in bringing innovative scientific labware products to market and we are looking forward to making major contributions to the continued success of this well-respected organization.”