Reaction Biology Corporation (“Reaction”), an industry-leading provider of drug discovery and development services, today announced that the Company has closed on a definitive agreement for Reaction to acquire Bioassay Labor für biologische Analytik GmbH (“Bioassay”), including its wholly-owned subsidiary, Peptide Specialty Laboratories GmbH (“PSL”), located in Heidelberg, Germany.
Bioassay offers Good Manufacturing Practices (GMP) accredited potency assays and functional bioassays, Good Laboratory Practices (GLP) compliant services, and through PSL, peptide synthesis services, including peptide-specific antibody production and neoantigen synthesis. Personnel, equipment, and facilities from the acquired companies will expand Reaction’s presence in Germany, while also enabling its global customers to leverage Bioassay’s expansive portfolio of regulated clinical and commercial services.
“Market demand is increasing globally for large molecule services as biopharmaceutical companies search for new treatment options for patients suffering with cancer and other serious diseases,” said John H. Johnson, Chief Executive Officer of Reaction Biology. “This transaction enables Reaction Biology to add Bioassay GmbH’s impressive clinical phase and post-approval infrastructure, which includes large molecule capabilities, as well as its GMP and GLP accreditations, to our expanding suite of drug discovery and development services. We can now provide our customers with even broader offerings to meet their research and development goals.”
Dr. Sven Cords, Managing Director and Chief Operating Officer, and Dr. Axel Hohenstein, Managing Director and Chief Scientific Officer, of Bioassay GmbH jointly commented: “Reaction’s commitment to high quality science and reputation for providing customers a personalized and collaborative research experience were instrumental in our decision to join this outstanding company. The infrastructure and resources gained from this acquisition provide us with an even stronger platform from which to expand our bioanalytical capabilities and grow our customer base, all while continuing to deliver gold standard quality services. Along with our colleagues, we look forward to joining Reaction and starting this exciting new phase of shared growth.”
GMP and GLP are accreditations imposed by regulatory bodies such as the FDA and EMA for compliance in the stages of design, testing, manufacturing, and the distribution of healthcare products. They ensure proper protocols and process validation for producing replicable results and adhering to industry standards.
White & Case LLP served as Reaction’s legal counsel for the transaction. ACXIT Capital Partners, a Stifel Company, and Goodwin Procter LLP, served as Bioassay GmbH’s financial advisor and legal counsel, respectively.