Invitro International

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InVitro International said Monday that it has revised its merger agreement with privately held Miragen Inc. of Irvine, so that InVitro shareholders will receive 10% of the common stock of the combined company after the deal is completed. The agreement still must be approved by directors of both companies. Miragen manufactures and markets biological testing products for human and animal identification in various clinical laboratory, hospital, animal and forensic applications.

InVitro International: The Irvine maker of test kits posted a profit of $25,191 for the second fiscal quarter ended March 31, contrasted with a net loss of $36,000 for the second quarter of the prior fiscal year. Revenue increased 22% to $166,575 from $136,000.

InVitro International, a manufacturer of test kits and services, said it lost $1.9 million, or 15 cents a share, for the fiscal year ended Sept. 30, compared with a net loss of $2.8 million, or 23 cents a share, for the previous year. Revenue was unchanged at $1.1 million.

InVitro International has launched a joint marketing venture with Burlington Research Inc., of Burlington, N.C., to measure skin irritation potential of textile chemicals and fabrics. InVitro said the company's irritation evaluation system also is being used by Helene Curtis Industries to screen and test products.

InVitro International, which makes products that test toxic levels in substances, said Tuesday that it will broaden its market by licensing a product from another Irvine drug company. InVitro will have the exclusive rights to market a Miragen Inc. product called Guardian DNA that helps to identify any living organism. Miragen will receive exclusive supply rights and future considerations. Financial details were not disclosed.