Promega helps researchers plumb the depths of the life sciences. The company sells more than 3,500 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.
Manufacturing unit Promega Biosciences (PBI) combines research in chemistry and manufacturing to serve the scientific community, while Promega BioSystems (PBS) designs and manufactures single-tube and microplate readers for fluorescent and luminescent biological assays. Shanghai Promega Biological Products manufactures reagents and packaging for the Chinese market.
Another unit, Terso Solutions provides inventory management services to distributors, hospitals, laboratories, and manufacturers. Its system uses radio frequency identification-enabled (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.
Promega has branches in 16 countries with more than 50 global distributors serving 100 countries. It operates its manufacturing facilities through PBI in San Luis Obispo, California; PBS in Seoul; Promega BioSystems Sunnyvale in Sunnyvale, California; Shanghai Promega Biological Products in Shanghai; and Terso Solutions in Madison, Wisconsin.
The company distributes its products in North America, Africa and the Middle East, Europe, Latin America, and the Asia/Pacific region.
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Promega's clients predominantly use its products for life science research in the fields of genomics, proteomics (the study of proteins), and cellular analysis with the ultimate goal of identifying targets for drug development. Additionally, its products are used for forensic testing by state and federal agencies, including the FBI, for human identification. Promega also offers paternity testing kits and in vitro diagnostic test systems.
The company's revenues grew from $350 million in 2013 to $360 million in 2014.
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, through which it 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. It also launched GloMax Discover, an integrated multi-mode detection plate reader system.
Promega was founded in 1978 and is owned by investors and employees and led by founder and CEO William Linton.