Promega Corporation

  • Overview

Promega helps researchers plumb the depths of the life sciences. The company sells more than 2,500 products that allow scientists to conduct various experiments in gene, protein, and cellular research. Its offerings fall into more than two dozen categories, including DNA and RNA purification, genotype analysis, protein expression and analysis, and DNA sequencing. Promega has branches in 15 countries around the world. The firm sells its products directly and through about 50 distributors. Customers include academic, pharmaceutical, and clinical labs, as well as government agencies and energy and chemical companies.

Geographic Reach

Promega has branches in 15 countries with more than 50 global distributors serving 100 countries. The company's headquarters are located in Madison, Wisconsin. The company recently opened new facility for its China operations, replacing an existing molecular biology reagent production site. Promeg operates its manufacturing facilities through Promega BioSciences (PBI ) in San Luis Obispo, California; Promega BioSystems (PBS) in Seoul, South Korea; Promega BioSystems Sunnyvale, Inc. in  Sunnyvale, California; Shanghai Promega Biological Products, Ltd. in Shanghai, China; and Terso Solutions, Inc. in Madison, Wisconsin.

The company distributes its products in North America, Africa and the Middle East, Europe, Latin America, and Pacific Asia.

Operations

Promega Biosciences (PBI) combines research in chemistry and manufacturing to serve the scientific community. Promega BioSystems (PBS) designs and manufactures single-tube and microplate readers for fluorescent and luminescent biological assays.

Subsidiary Terso Solutions provides inventory management services to distributors, hospitals, laboratories, and manufacturers. The company's system uses radio-frequency identification (RFID) enabled cabinets, freezers, and refrigerators to help clients keep tabs on the whereabouts of sensitive inventory such as reagents, pharmaceuticals, and hazardous materials. RFID uses radio-wave communication technology to exchange data between a reader and an electronic tag attached to the item being tracked. The technology allows users to maintain close tabs on the supply management chain, usually via web-based applications, in effort to control costs.

Promega holds hundreds of patents in the areas of nucleic acid purification, human identification, and bioluminescence, as well as in vitro transcription and translation, and cell biology.

Sales and Marketing

Promega's clients use its products predominantly for life science research in the fields of genomics, proteomics (the study of proteins), and cellular analysis with the ultimate goal of indentifying targets for drug development. Additionally, its products are used for forensic testing by state and federal agencies, including the Federal Bureau of Investigation, for human identification. Promega also offers paternity testing kits and in vitro diagnostic test systems.

In 2013 Promega chose MyBio, Ireland’s leading specialist bioscience reagents supplier, to be its new, exclusive distributor in the Republic of Ireland and Northern Ireland.

Financial Performance

The company's revenues grew from $284 million in 2011 to $350 million in 2013.

Strategy

Promega is continuously growing its product offerings through research and development efforts; R&D spending accounts for more than 10% of annual revenue expenditures. It focuses on expanding the uses of its current technologies, as well as introducing new add-ons for existing systems and kits. The company also licenses its technologies to other biotech firms.

Promega sometimes partners with other companies to expand its service offerings. In 2014 it formed a partnership with Genetic Technologies Limited (GTG), a diagnostics company. Under which the company received rights in relation to GTG's Intron Sequence Analysis and Genomic Mapping patents.

Growing its product portfolio, in 2014 the company released a new touchscreen interface for the Helix smart on-site stocking program. The touchscreen enhances the Helix experience by providing researchers easy access to relevant information about Promega products, including applications and protocols. Promega Helix touchscreen interface provides customers with access to self-service features in life science research laboratories. It also launched GloMax Discover, an integrated multimode detection plate reader system, and launch of the Maxwell 16 LEV RNA FFPE Kit for RNA isolation from mammalian formalin fixed paraffin embedded) tissue samples.

In 2013 the company launched the QuantiFluor ONE dsDNA System, a sensitive, dsDNA-specific fluorescent dye suitable for use in both research and clinical workflows.

Expanding its infrastructure, in 2013 the company opened its new cGMP manufacturing facility, the Feynman Center. The state-of-the-art 260,000-sq.-ft. facility is dedicated to serving customers in need of molecular biology reagents for In Vitro diagnostic assays.

In 2012, investment in research increased 8% over the prior year. These investments in research and development resulted in 31 new products in 2012 including a novel luciferase, NanoLuc® luciferase. In 2012, Promega also made significant investments in infrastructure and additional capabilities.

Company Background

In late 2010 Promega and MS Bioworks formed a collaboration through which the two companies began offering mass spectrometry services including sample processing and analysis.

Following that, Promega formed a partnership with American Type Culture Collection (ATCC) for cell banking and bioproduction of cells to create a new line of bioluminescence-based drug discovery assays for biologics. Under terms of the deal, ATCC will produce and authenticate the cell banks and stock cell lines, which will be used as cellular reagents to create a new line of Promega cell assay systems for biologics. The initial cell assay system will facilitate biologics drug discovery. Additionally, Promega launched an ADCC reporter bioassay in 2011 as the first product offering from the partnership.

Promega was founded in 1978 and is owned by investors and employees and led by founder and CEO William Linton.

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Promega Corporation


2800 Woods Hollow Rd.
Madison, WI 53711
Phone: (608) 274-4330
Fax: (608) 277-2516
www.promega.com

STATS


  • Employer Type: Private
  • Chairman and CEO: William Linton
  • Chairman and CEO: William Linton
  • Senior Director Communications and Marketing Services: Penny Patterson

Major Office Locations

  • Madison, WI

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