Neutekbio’s technologies and products complement perfectly Biomonitor’s current offerings to physicians and clinics involved in treatment of patients with multiple sclerosis, rheumatoid arthritis and Crohn’s disease worldwide.
Biomonitor will continue the R&D and manufacturing operations in Ireland and the ongoing collaboration with the CNRS, a French research organization in cell biology, virology, and medicine in Paris.
Arsalan Kharazmi, CEO of Biomonitor, said: With the acquisition of Neutekbio we have become the leading theranostic company, which offers a very broad range of assays for patient monitoring as well as supporting pharma/biotech industry in their biopharmaceutical drug development programs.
Dr. Robert Erickson, former CEO of Neutekbio and currently managing director of the Galway-based operation, has said that this was a strategically important event for the company. He said: “Neutekbio has established product development laboratories, ISO13485 certified manufacturing facilities and have recently introduced three products to the marketplace. I am confident that synergies inherent in this acquisition will be realized in a timely manner.”
Sunstone Capital in Denmark has rendered financial support to the acquisition.
Soren Lemonius, chairman of Biomonitor and partner in Sunstone Capital, said: We are committed to supporting Biomonitor in becoming a leader in monitoring and improving costly protein based therapies – also by acquisition of supplementary products and technologies when possible.