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A small circle of life sciences professionals recently created Magellan Biosciences Inc. with the plan of launching a buying expedition in the biosciences.
And the company has left port in a big way, having purchased two life sciences company, and setting its sights on annual revenues approaching $70 million, Financial details of the acquisitions were not disclosed.
Ampersand Ventures of Wellesley is the wind in Magellan's sails. Ampersand, which also has offices in San Diego, is a private equity investment firm with $550 million under management.
Magellan recently acquired Dynex Technologies Inc., of Chantilly, Va., a supplier of microplate instrumentation for biomedical research and drug discovery.
It acquired Dynex from Capital Genomix Inc. of Gaithersburg, Md.
Magellan several months ago acquired ESA Inc. of Chelmsford. ESA provides analytical instruments for drug discovery and clinical diagnostics.
Magellan expects revenues of...