Cell Biosciences to Acquire Convergent Bioscience

By Cell Biosciences Inc., PRNE
Tuesday, October 12, 2010

SANTA CLARA, California, October 13, 2010 - Cell Biosciences, Inc. today announced that it has entered into a
definitive agreement to acquire Convergent Bioscience Ltd. for approximately
U.S. $12 million in cash. The transaction is expected to close by the end of
October, 2010.

Convergent Bioscience was founded in 1995 and employs 45 people,
primarily at its headquarters in Toronto, Ontario. Convergent pioneered the
use of imaging capillary electrophoresis for protein charge heterogeneity
characterization, a critical quality control measurement performed during
protein biologics production. Convergent's products have become the
acknowledged gold standard for biologics charge heterogeneity quality control
monitoring. More than 320 systems have been purchased by over 100 Pharma and
Biotech companies globally for this purpose. Convergent's 2010 revenues are
expected to be near U.S. $8 million.

This strategic acquisition will significantly expand Cell Biosciences'
portfolio of protein analysis products and transform Cell Biosciences into
the premier provider of capillary-based protein analysis technology. By
acquiring Convergent Bioscience, with its strong position in biologics
quality control, Cell Biosciences will gain access to an attractive,
high-growth segment of the protein therapeutics market. This acquisition
marks an important step toward Cell Biosciences' strategic goal of becoming a
leading global provider of protein analysis technologies.

Commenting on the transaction, Tim Harkness, President and Chief
Executive Officer of Cell Biosciences, said, "The strategic fit between Cell
Biosciences and Convergent Bioscience is nearly perfect. Our NanoPro systems
and the Convergent iCE280 are based upon similar technologies, but each
platform has been optimized for distinct applications in distinct markets. We
expect to realize immediate synergies across both organizations, ultimately
leading to groundbreaking next-generation products for our customers."

Arthur Watson, President and Chief Executive Officer of Convergent
Bioscience, added, "Cell Biosciences' technological expertise, worldwide
distribution channels, and strong commitment to customers make it an ideal
partner for Convergent. This combination will strengthen our ability to
penetrate international markets and to develop innovative new products for
biologics characterization."

In connection with the transaction, Cell Biosciences has entered into
agreements to raise approximately US$20 million in a Series F Preferred Stock
financing led by Essex Woodlands Health Ventures. Existing investors,
including The Wellcome Trust, Novo A/S, Domain Associates, Latterell Venture
Partners, Royal Bank of Canada, The Vertical Group and Lansing Brown
Investments, LLC have agreed to participate in the financing.


Cell Biosciences is a private life sciences company focused on defining
the future of protein analysis. The Company develops instrumentation systems,
sample preparation systems, software and assay products that drive
discoveries in fields ranging from fundamental protein research to biomarker
discovery and personalized medicine. With an installed base of over 10,000
systems, its customers include leading research institutions, pharmaceutical
and biotechnology companies worldwide. Cell Biosciences is headquartered in
Santa Clara, California. For more information, visit

Tim Harkness, CEO of Cell Biosciences, Inc., +1-408-510-5501, tharkness at cellbiosciences.com

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