Biomonitor Acquires the Irish Theranostic Company Neutekbio
December 15th, 2008
2008 DEC 15 -- Biomonitor A/S has completed the acquisition of the Irish company Neutekbio Ltd. on 27 November 2008. 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 French research institution CNRS in Paris. CNRS is a leading research organization in cell biology, virology, and medicine.
Comments from Biomonitor's CEO Arsalan Kharazmi. Neutekbio has developed a proprietary platform and products based on reporter gene technology. The company has developed cell-based assays and kits called iLiteTM. These assays and kits measure biological activity of cytokines such as Interferons and neutralizing antibodies to IFNs and TNFalpha antagonists. These assays are essential and very important for monitoring drug activity profile as well as the potential of immunogenicity of biopharmaceutical drugs throughout the entire development and post-marketing. 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, indicated this was a strategically important event for the Company. "Neutekbio has established product development laboratories, ISO13485 certified manufacturing facilities and have recently introduced 3 products to the marketplace. I am confident that synergies inherent in this acquisition will be realized in a timely manner."
The acquisition is made possible by the financial support from Sunstone Capital in Denmark. "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," says S=F8ren Lemonius, Chairman of Biomonitor and Partner in Sunstone Capital.
This article was prepared by Pain & Central Nervous System Week editors from staff and other reports. Copyright 2008, Pain & Central Nervous System Week via NewsRx.com.
