PhyNexus, Inc. Enters Into An Agreement To Be Acquired By Biotage AB
SAN JOSE, Calif., Dec. 4, 2018 /PRNewswire/ -- PhyNexus, Inc., a privately held California corporation, announces today an agreement to be acquired by Biotage AB (Nasdaq Stockholm: BIOT.ST), strengthening its position for world-wide sales and marketing of automated lab-scale purification technology of biomolecules. Together, PhyNexus and Biotage will be able to provide their global customers an enabling automation platform based on Dual Flow Chromatography and patented tip technology for high throughput purification of biomolecules such as proteins, plasmids and antibodies at the lab-scale.
The companies will fully address the growing multi-billion USD market, including purification and manipulation of biomolecules. PhyNexus and Biotage believe that the combination of technology and resources will also enable the development of new approaches for clinical, forensic, food and environmental testing.
PhyNexus technology enables miniaturized and parallel automated work-flows to address different laboratory purification processes. The company's Dual Flow Chromatography tip technology has the ability to draw up samples, process them and re-deposit them into sample wells. The processed samples are ready for use or, if desired, may be processed with additional tips to bring the sample to the desired form in a completely automated work-flow. The platform technology delivers high throughput purification capability with improved results across multiple applications in biologics drug discovery, research and development, and diagnostic applications.
Torben Jörgensen, CEO of Biotage, comments: "The acquisition of PhyNexus is in line with our strategy to grow our separation business through expansion into new application areas. This transaction enables PhyNexus' products to reach a larger global market through Biotage's direct sales organization, at the same time as Biotage obtains access to customers in industries where Biotage historically has not been as active. The acquisition is complementary to our existing offering and enables us to better address the growing biomolecules market. We are very much looking forward to accelerate our efforts in this fast emerging area."
Douglas Gjerde, founder and CEO of PhyNexus, comments: "We are excited to partner with Biotage for the next phase of PhyNexus' development. This combination will allow PhyNexus' product offering to expand its footprint globally and open up new opportunities for developing and bringing new innovative products to the market."
San Jose, California-based PhyNexus offers protein and plasmid sample preparation columns and robotics. PhyNexus products miniaturize and automate purification while retaining the native state of the protein and/or provide transient transfection quality plasmids. The columns are modified to be compatible with all of the major robotic liquid handlers and with their own PhyNexus liquid handlers. PhyNexus customers are life scientists in pharmaceutical companies and academia doing research for drug target and validation, drug screening and lead optimization, drug development, clinical trials, and drug manufacturing.
Biotage offers efficient separation technologies from analysis to industrial-scale and high-quality solutions for analytical chemistry from research to commercial analysis laboratories. Biotage's products are used by public authorities, academic institutions, contract research and contract manufacturing organizations and in the pharmaceutical and food industries, among others. The company is headquartered in Uppsala and has offices in the US, UK, China, Japan, South Korea and India. Biotage has approx. 410 employees and had sales of 748 MSEK in 2017. Biotage is listed on Nasdaq Stockholm.
Douglas Gjerde, CEO
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Tiffany Nguyen, President
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SOURCE PhyNexus, Inc.
Company Codes: Stockholm:BIOT