Applied Biosystems, Inc. (formerly NASDAQ: ABIO) started as GeneCo (Genetic Systems Company), was the name of a pioneer biotechnology company founded in 1981 in Foster City, California, in the San Francisco Bay Area.[1] Through the 1980s and early 1990s it operated independently and manufactured biochemicals and automated genetic engineering and diagnostic research instruments, including the principal brand of DNA sequencing machine used by the Human Genome Project consortium centers. Applied Biosystems' close ties to the consortium project led to the idea for the founding of Celera Genomics (NYSE: CRA) in 1998 as one of several independent competitors to the consortium.[2]
In 1983 Applied Biosystems was delisted from the NASDAQ when it was acquired by the old company known then as Perkin-Elmer (formerly NYSE: PKN). As the PE Applied Biosystems Division under that parent in 1998, it became consolidated with other acquisitions as the primary PE Biosystems Division. In 1999 its parent company reorganized and changed its name to PE Corporation, and the PE Biosystems Group (formerly NYSE: PEB) again became publicly traded, as a tracking stock of its parent, along with its sister tracking stock company, Celera Genomics. In 2000 the parent became Applera Corporation. The Applied Biosystems name also returned that year, in the name change of the tracking stock from PE Biosystems Group to Applera Corporation-Applied Biosystems Group (NYSE: ABI), an S&P 500 company, which remains as a publicly traded operating group within Applera Corp., along with its sibling operating group, Applera Corporation-Celera Group. Applera derives its name from the combination of its two component groups' names, Appl(iedCel)era.[3] In November 2008, a merger between Applied Biosystems and Invitrogen [4] was finalized "creating a global leader in biotechnology reagents and systems". The new company is called Life Technologies.
Applied Biosystems Group, a unit of Applied Biosystems Inc. (formerly Applera), makes the big machines for life scientists to peer into the details of DNA and proteins. Its product line includes systems that detect the polymerase chain reactions used to identify DNA sequences. The unit also provides gene expression assays for various species, specialized enzymes called reagents, and disposable plastic devices to hold DNA samples. Its customers include biotech and drug firms, as well as academic and other researchers. In 2008 the unit's parent (the former Applera) spun off its Celera unit and took on the Applied Biosystems name, in preparation for merging with fellow life sciences company Invitrogen.
In 1996, Tony L. White from Baxter International Inc. became President and Chief Executive Officer of Perkin-Elmer and reorganized it into two separate operating divisions, Analytical Instruments and PE Applied Biosystems. The PE Applied Biosystems division accounted for half of Perkin-Elmer's total revenue, with net revenues up by 26%.[1]
In 1997, revenues reached almost US$1.3 billion, of which PE Applied Biosystems was US$653 million. The company acquired GenScope, Inc., and Linkage Genetics, Inc. The Linkage Genetics unit was combined with Zoogen to form PE AgGen, focused on genetic analysis services for plant and animal breeding. The PE Applied Biosystems division partnered with Hyseq, Inc., for work on the new DNA chip technology, and also worked with Tecan U.S., Inc., on combinatorial chemistry automation systems, and also with Molecular Informatics, Inc. on genetic data management and analysis automated systems.
In 1998, PE Applied Biosystems became PE Biosystems, and the division's revenues reached US$871 million. In January 1998 Perkin-Elmer acquired PerSeptive Biosystems (formerly NASDAQ: PBIO) of Framingham, Massachusetts.[1] It was a leader in the bio-instrumentation field where it made biomolecule purification systems for protein analysis.[3][10][11] Noubar B. Afeyan, Ph.D., had been the founder, Chairman, and CEO of PerSeptive, and with the Perkin-Elmer successor company he set up the later tracking stock for Celera.
In 1998, Perkin-Elmer formed the PE Biosystems division, by consolidating Applied Biosystems, PerSeptive Biosystems, Tropix and PE Informatics. Informatics was formed from the Perkin-Elmer combination of two other acquisitions, Molecular Informatics and Nelson Analytical Systems, with existing units of Perkin-Elmer.[3]
While planning the next new generation of machines, PE Biosystems' president, Michael W. Hunkapiller, calculated that it would be possible for their own private industry to decode the human genome before the academic consortium could complete it, by using the resources of a single, industrial-scale center, even though it would require starting from scratch.[2] It was a bold prediction, given that the consortium target date set by Dr. Watson back in 1990 had been the forward year of 2005, only seven years away, and with the consortium already half the way to the completion target date.
Also, it meant that Dr. Hunkapiller's idea would require competing against his own customers, to all of whom Applied Biosystems sold its sequencing machines and their chemical reagents. However, he calculated that it would also mean doubling the market for that equipment.[2]
Hunkapiller brought in Dr. J. Craig Venter to direct the project. Tony White, president of the Perkin-Elmer Corporation backed Hunkapiller on the venture. They organized the new company to accomplish the task. In May 1998, Celera Genomics was formed, to rapidly accelerate the human DNA sequencing process. Dr. Venter boldy declared to the media that he would complete the genome decoding by 2001.[12][13] That bold announcement prompted the academic consortium to accelerate their own deadline by a couple years, to 2003.[2]
Also in 1998, PE Biosystems partnered with Hitachi, Ltd. to develop electrophoresis-based genetic analysis systems, which resulted in their chief new genomics instrument, the ABI PRISM 3700 DNA Analyzer, which advanced the Human Genome sequencing project by nearly five years ahead of schedule. The partnerships sold hundreds of the 3700 analyzers to Celera, and also to others worldwide.[1][12]
The new machine cost US$300,000 each, but was a major leap beyond its predecessor, the 377, and was fully automated, allowing genetic decoding to run around the clock with little supervision. According to Venter, the machine was so revolutionary that it could decode in a single day the same amount of genetic material that most DNA labs could produce in a year.[13]
The public consortium also bought one of the PE Biosystems 3700 sequencers, and had plans to buy 200 more. The machine proved to be so fast that by late March 1999 the consortium announced that it had revised its timeline, and would release by the Spring of 2000 a "first draft sequence" for 80% of the human genome.[13]
Financial Highlights
Fiscal Year End: June
Revenue (2007): 2093.50 M
Revenue Growth (1 yr): 9.50%
Employees (2007): 5,000
Employee Growth (1 yr): 9.40%
Key People
• VP, Strategic Planning and Business Development: Paul D. Grossman
• President and COO: Mark P. Stevenson
• VP Strategic Planning and Business Development: James P. (Jim) Merryweather
Contact Information
Address: 850 Lincoln Centre Dr.
Foster City, CA 94404
In 1983 Applied Biosystems was delisted from the NASDAQ when it was acquired by the old company known then as Perkin-Elmer (formerly NYSE: PKN). As the PE Applied Biosystems Division under that parent in 1998, it became consolidated with other acquisitions as the primary PE Biosystems Division. In 1999 its parent company reorganized and changed its name to PE Corporation, and the PE Biosystems Group (formerly NYSE: PEB) again became publicly traded, as a tracking stock of its parent, along with its sister tracking stock company, Celera Genomics. In 2000 the parent became Applera Corporation. The Applied Biosystems name also returned that year, in the name change of the tracking stock from PE Biosystems Group to Applera Corporation-Applied Biosystems Group (NYSE: ABI), an S&P 500 company, which remains as a publicly traded operating group within Applera Corp., along with its sibling operating group, Applera Corporation-Celera Group. Applera derives its name from the combination of its two component groups' names, Appl(iedCel)era.[3] In November 2008, a merger between Applied Biosystems and Invitrogen [4] was finalized "creating a global leader in biotechnology reagents and systems". The new company is called Life Technologies.
Applied Biosystems Group, a unit of Applied Biosystems Inc. (formerly Applera), makes the big machines for life scientists to peer into the details of DNA and proteins. Its product line includes systems that detect the polymerase chain reactions used to identify DNA sequences. The unit also provides gene expression assays for various species, specialized enzymes called reagents, and disposable plastic devices to hold DNA samples. Its customers include biotech and drug firms, as well as academic and other researchers. In 2008 the unit's parent (the former Applera) spun off its Celera unit and took on the Applied Biosystems name, in preparation for merging with fellow life sciences company Invitrogen.
In 1996, Tony L. White from Baxter International Inc. became President and Chief Executive Officer of Perkin-Elmer and reorganized it into two separate operating divisions, Analytical Instruments and PE Applied Biosystems. The PE Applied Biosystems division accounted for half of Perkin-Elmer's total revenue, with net revenues up by 26%.[1]
In 1997, revenues reached almost US$1.3 billion, of which PE Applied Biosystems was US$653 million. The company acquired GenScope, Inc., and Linkage Genetics, Inc. The Linkage Genetics unit was combined with Zoogen to form PE AgGen, focused on genetic analysis services for plant and animal breeding. The PE Applied Biosystems division partnered with Hyseq, Inc., for work on the new DNA chip technology, and also worked with Tecan U.S., Inc., on combinatorial chemistry automation systems, and also with Molecular Informatics, Inc. on genetic data management and analysis automated systems.
In 1998, PE Applied Biosystems became PE Biosystems, and the division's revenues reached US$871 million. In January 1998 Perkin-Elmer acquired PerSeptive Biosystems (formerly NASDAQ: PBIO) of Framingham, Massachusetts.[1] It was a leader in the bio-instrumentation field where it made biomolecule purification systems for protein analysis.[3][10][11] Noubar B. Afeyan, Ph.D., had been the founder, Chairman, and CEO of PerSeptive, and with the Perkin-Elmer successor company he set up the later tracking stock for Celera.
In 1998, Perkin-Elmer formed the PE Biosystems division, by consolidating Applied Biosystems, PerSeptive Biosystems, Tropix and PE Informatics. Informatics was formed from the Perkin-Elmer combination of two other acquisitions, Molecular Informatics and Nelson Analytical Systems, with existing units of Perkin-Elmer.[3]
While planning the next new generation of machines, PE Biosystems' president, Michael W. Hunkapiller, calculated that it would be possible for their own private industry to decode the human genome before the academic consortium could complete it, by using the resources of a single, industrial-scale center, even though it would require starting from scratch.[2] It was a bold prediction, given that the consortium target date set by Dr. Watson back in 1990 had been the forward year of 2005, only seven years away, and with the consortium already half the way to the completion target date.
Also, it meant that Dr. Hunkapiller's idea would require competing against his own customers, to all of whom Applied Biosystems sold its sequencing machines and their chemical reagents. However, he calculated that it would also mean doubling the market for that equipment.[2]
Hunkapiller brought in Dr. J. Craig Venter to direct the project. Tony White, president of the Perkin-Elmer Corporation backed Hunkapiller on the venture. They organized the new company to accomplish the task. In May 1998, Celera Genomics was formed, to rapidly accelerate the human DNA sequencing process. Dr. Venter boldy declared to the media that he would complete the genome decoding by 2001.[12][13] That bold announcement prompted the academic consortium to accelerate their own deadline by a couple years, to 2003.[2]
Also in 1998, PE Biosystems partnered with Hitachi, Ltd. to develop electrophoresis-based genetic analysis systems, which resulted in their chief new genomics instrument, the ABI PRISM 3700 DNA Analyzer, which advanced the Human Genome sequencing project by nearly five years ahead of schedule. The partnerships sold hundreds of the 3700 analyzers to Celera, and also to others worldwide.[1][12]
The new machine cost US$300,000 each, but was a major leap beyond its predecessor, the 377, and was fully automated, allowing genetic decoding to run around the clock with little supervision. According to Venter, the machine was so revolutionary that it could decode in a single day the same amount of genetic material that most DNA labs could produce in a year.[13]
The public consortium also bought one of the PE Biosystems 3700 sequencers, and had plans to buy 200 more. The machine proved to be so fast that by late March 1999 the consortium announced that it had revised its timeline, and would release by the Spring of 2000 a "first draft sequence" for 80% of the human genome.[13]
Financial Highlights
Fiscal Year End: June
Revenue (2007): 2093.50 M
Revenue Growth (1 yr): 9.50%
Employees (2007): 5,000
Employee Growth (1 yr): 9.40%
Key People
• VP, Strategic Planning and Business Development: Paul D. Grossman
• President and COO: Mark P. Stevenson
• VP Strategic Planning and Business Development: James P. (Jim) Merryweather
Contact Information
Address: 850 Lincoln Centre Dr.
Foster City, CA 94404