Minneapolis-based bioscience device manufacturer Mocon, Inc., acquired a minority interest in an Irish bioscience company, the company said Thursday.
Mocon paid $3.6 million for a 17 percent stake in Luxcel Biosciences, Ltd., a commercializer of biological testing sensors.
Luxcel’s sensors screen for and detect food contamination, analyze beverage and pharmaceutical packaging, and analyze gas in food.
“Luxcel’s technology, products, and services represent a strong strategic addition to Mocon’s core instrumentation business,” Mocon President and CEO Robert Demorest said in a statement.
“This investment will enable our company to provide even greater value to the global food and pharmaceutical sectors by providing . . . faster, less expensive testing for pathogens,” Demorest said.
The deal went into effect on January 15.
Luxcel was founded in 2002 as a spin-off company from University College Cork in Cork, Ireland.
Mocon is one of Minnesota’s 20 largest public medical device manufacturers based on revenue, which totaled $29.7 million in 2008.
