Ampersand Capital Partners has announced that it has completed an acquisition of Pacific Biomarkers and merged it with existing portfolio company NEOMED-LABS. This merger brings together two leading bioanalytical contract research organisations (CRO) with credentials in immunology and particular expertise in assay development, custom biomarker validation, and high-throughput clinical sample testing.
Based in Seattle and founded in 1989, Pacific Biomarkers provides speciality biomarker development and central laboratory testing services for the pharmaceutical and biotech markets. The company is a full-service bioanalytical laboratory capable of supporting pharmaceutical sponsors with efficacy and drug safety-related testing from preclinical through Phase IV clinical studies.
NEOMED-LABS’ president and CEO Benoit Bouche will serve as CEO of the combined entity. He said: “The merger of NEOMED-LABS and Pacific Biomarkers creates an expanded business with a broad set of capabilities, allowing the combined entity to better serve its customers.
“We are excited to bring two world-class laboratories together and build a centre of excellence for clinical immunology and speciality biomarker testing services.”
President and corporate science officer (CSO) of Pacific Biomarkers Amar Sethi will serve as president and chief medical officer of the combined business. He added: “I am very pleased with the closing of this strategic transaction. Pacific Biomarkers has been providing industry-leading testing services to customers for nearly 30 years and this merger positions us to further accelerate our growth as part of a larger business with more resources. I am highly confident that this combined business will be well positioned to serve a global base of customers.”
Partner at Ampersand Eric Lev said: “Ampersand’s goal with our original investment in NEOMED-LABS earlier this year was to build a world-class leader in clinical immunology lab services, and this merger furthers that goal.
“Ampersand looks forward to working with the management team in the next phase of growth for the combined company to provide industry-leading clinical laboratory testing services for the pharma, in in-vitro diagnostic devices (IVD), and biotech markets.”
About Pacific Biomarkers
Pacific Biomarkers is a biomarker testing services provider supporting pharmaceutical, biotech and IVD manufacturing companies through preclinical and Phase I-IV studies of drug and IVD development. It provides bioanalytical good laboratory practice (GLP) and good clinical laboratory practice (GCLP) compliant biomarker laboratory services.
About Ampersand Capital Partners
Founded in 1988, Ampersand is a middle-market private equity firm dedicated to growth-oriented investments in the healthcare sector. Ampersand leverages its unique blend of private equity and operating experience to build value and drive superior long-term performance alongside its portfolio company management teams.