MOCON, Inc. (NASDAQ:MOCO) has announced that it has acquired a minority equity interest in Luxcel Biosciences Limited. The acquisition was effective as of January 15, 2010. The company invested $3,625,000 for 16.9% equity interest in Luxcel.
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Based in Cork, Ireland, Luxcel was created to commercialize research and technology in the fields of phosphorescence based sensor development and its application for biological testing. The sensors enable rapid, high throughput screening and detection of bacterial contamination of food samples, non invasive analysis of gas in food, and beverage and pharmaceutical packaging. The sensors also provide specific measures of drug toxicity and metabolism in pharmaceutical research and development.
MOCON, Inc. (MOCON) is engaged in designing, manufacturing, marketing and servicing products and providing consulting services primarily in the measurement and analytical instrument and services markets. The Company’s products include instruments that detect, measure and monitor gases and chemical compounds. Its gas and vapor permeation products were used in the food packaging industry to measure small amounts of moisture which adversely affects dry cereal and other food packaging. Its primary business, the detection, measurement and analysis of vapors and gases, serves industries far beyond food packaging. Its products serve niche markets from foods, beverages, pharmaceuticals and consumer products, to oil and gas exploration, industrial safety and homeland security.
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