MS Firm Buys CRO
Protea’s product offerings include LAESI (laser ablation ESI) technology for use with MS, and life science aftermarket products. The company also provides bioanalytical services, specializing in MS imaging services for molecular distribution profiling. Protea 2014 revenues grew 44.5% to $1.8 million, led by a 153.4% increase in Molecular Imaging Services to make up 29% of total revenues. The LAESI Instrument Platform represented 42%.
Washington, DC 4/6/15; Morgantown, VA 4/7/15; Bundorra, Canada 4/7/15—Protea Biosciences, a supplier of bioanalytical solutions, has agreed to acquire vivoPharm for $11.1 million in cash and stock. vivoPharm provides pharmacology, toxicology and bioanalytical research services, including oncology models. “vivoPharm has developed a large standard-of-care reference database. We believe that this critical asset, together with Protea’s capacity to rapidly generate large molecular databases on tissue samples, and display the data in 2-D and 3-D localized molecular imaging when applied, will significantly improve the R&D and drug development processes,“ stated Protea Chairman and CEO Stephen Turner. vivoPharm will operate as a business unit of Protea. The transaction is expected to close in the first half of this year.
