Sartorius Corporation Acquires U.S. Start-up Virocyt for $16 Million
GOETTINGEN, Germany--(BUSINESS WIRE)--Sartorius, a leading international pharmaceutical and laboratory tools provider, today announced the acquisition of ViroCyt Incorporated, an innovator in the field of rapid virus quantification. Based in Broomfield, Colorado, USA, the start-up is expected to achieve high double-digit growth and to generate more than $3 million sales revenues in 2016 while achieving break even underlying EBITDA by the end of 2018. The transaction values ViroCyt at approx. $16 million.
“After acquiring the cell screening specialist IntelliCyt, we are now adding a further very innovative bioanalytical tool to our Lab Products & Services portfolio that will enable our customers to obtain lab results much faster and reduce the time to clinic for virus-based pharmaceuticals.”
ViroCyt’s main customers come from pharma and biopharma R&D laboratories, vaccine manufacturers as well as from academic institutes focused on virology. The company’s unique automated platform, which integrates instruments, software and reagents, delivers high quality results significantly faster than commonly used methods for virus counting.
Michael Melingo, member of the Sartorius Group Executive Committee, commented, “After acquiring the cell screening specialist IntelliCyt, we are now adding a further very innovative bioanalytical tool to our Lab Products & Services portfolio that will enable our customers to obtain lab results much faster and reduce the time to clinic for virus-based pharmaceuticals.”
“Sartorius is an ideal partner for us due to its global presence and strong reputation for innovation and quality. By joining forces, we will drive further adoption of our novel approach to virus quantification both in the US and in international markets,” said Robert Kline, President and CEO of ViroCyt. He added that the acquisition by Sartorius is a very positive development for ViroCyt’s customers, employees and shareholders.
This press release contains statements about the future development of the Sartorius Group. The content of these statements cannot be guaranteed as they are based on assumptions and estimates that harbor certain risks and uncertainties.
A Profile of Sartorius
The Sartorius Group is a leading international pharmaceutical and laboratory equipment provider with two divisions: Bioprocess Solutions and Lab Products & Services. Bioprocess Solutions with its broad product portfolio focusing on single-use solutions helps customers produce biotech medications and vaccines safely and efficiently. Lab Products & Services, with its premium laboratory instruments, consumables and services, concentrates on serving the needs of laboratories performing research and quality assurance at pharma and biopharma companies and on those of academic research institutes. Founded in 1870, the company earned sales revenue of more than 1.1 billion euros in 2015. More than 6,200 people work at the Group’s 50 manufacturing and sales sites, serving customers around the globe.
A Profile of ViroCyt
ViroCyt, Inc. was created with the goal of bringing game-changing solutions to the Life Science industry. Our primary focus is replacing outdated technologies that slow down the pace of virus-related research and product development.
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