Paris and Codolet, France 11/18/13; Louvain-la-Neuve, Belgium 11/18/13—Drug discovery and IVD assay developer and service provider Cisbio Bioassays has been sold by Ion Beam Applications to private equity firm Argos Soditic and management for €16.3 million ($22.0 million = €0.74 = $1). Based in Codolet, France, with annual revenues of €35 million ($47 million), Cisbio offers solutions based on its homogeneous time resolved fluorescence (HTRF) detection methods. “Cisbio Bioassays is an innovative company, recognized for the quality of its services and products. It has the advantage of a remarkable international exposure, with over 85% of its turnover coming from outside France,” said Gilles Lorang, a partner in Argos Soditic. “The outstanding qualities of the management team, as well as the excellent company culture throughout Cisbio, have been crucial points in this takeover and in the implementation of a spin-off operation which proved to be particularly complex.”