Provider of biospecimens and related services, BioIVT, has acquired multinational cell-based assay company, Ascendance Biotechnology, expanding its drug safety testing and toxicology portfolios.
“We are delighted to have acquired Hepregen’s proprietary technology and product lines. They dovetail beautifully with BioIVT’s in vitro hepatic models and service offerings,” said BioIVT chief executive officer Jeffrey Gatz. “We anticipate that expanded use of Hepregen’s highly functional, in vitro liver models will lead to greater understanding of the toxicity resulting from long-term exposure to chemical compounds.”
“We have found the ideal new home for our Hepregen products,” added John (Jack) McGeehan, Ascendance vice president, ADME-Tox Product Development. “BioIVT shares our commitment to excellent customer service and rigorous product quality assurance and quality control. Customers can rest assured that they will continue to receive the highest levels of consistency and reproducibility that they have come to expect from Hepregen products.”
Through the acquisition, BioIVT is adding Hepregen’s HepatoPac, HepatoMune and HepatoStem liver cell and stem cell product lines to its drug safety testing and toxicology portfolios. All Hepregen’s products employ a patented cell micropatterning technology in which different cell types are plated on industry-standard microwell plates in proprietary patterns.
Financial details about the transaction were not disclosed.