BioreclamationIVT acquires TransCell Science
BioreclamationIVT has acquired TransCell Science, a privately held CRO specializing in the use of primary cells for phenotypic screening assays. With its scientific expertise in the areas of cell culture and cell-based assays, clients have looked to TransCell as a partner in developing protocols and conducting studies that provide pertinent data for their research programs. The output from such studies enables "go" or "no go" decisions with a higher level of confidence at a much earlier time point within the drug discovery process and greatly reduces the chance of downstream failure.
Through prior acquisitions and organic growth, BioreclamationIVT has become the premier supplier of biological specimens to the life sciences industry. "We have enormous respect for what TransCell Science has accomplished since their founding in 2011," said Jeff Gatz, BioreclamationIVT CEO. "Building upon our collective synergies, this transaction positions us to accelerate growth and unleash the full potential of our merged companies. Together, BioreclamationIVT and TransCell Science will form a complete solution spanning biospecimen acquisition to use of those samples within highly relevant in vitro assays."
BioreclamationIVT is backed by Arsenal Capital Partners, a leading investor in healthcare and life sciences companies managing approximately $3 billion of capital. "We are excited to extend BioreclamationIVT's leadership position in providing biological products and services necessary for efficient development of new drugs and diagnostics, especially targeted therapeutics," said David Spaight, Arsenal Capital operating partner and chairman of BioreclamationIVT. "TransCell Science aligns with Arsenal's focused M&A program targeting leaders in biological products and complementary services."
Dr. Chris Hansis, TransCell science founder and CEO, will join the BioreclamationIVT executive team as chief scientific officer. "TransCell has been a trusted research partner for top pharmaceutical, biotech and multinational personal care products companies and leading academic and government institutions, and I couldn't be prouder of our achievements to date," said Hansis. "We have capitalized on growing pressure within the industry to outsource research activities and I am particularly eager to extend our momentum through this transaction."
BioreclamationIVT's family of products and services are unified by one goal: to provide researchers with the best tools and information for making a difference in people's lives. "We're excited by the opportunity this affords us to work more intimately with our clients in the scientific community as they develop their research programs," said Gatz. "We expect the expansion of our service offerings will help to speed up the drug discovery process and ensure efficacious therapeutics get to patients that need them most."