“By coupling the global market presence and strong infrastructure of Sartorius with IntelliCyt’s enabling cell analysis platform, we will be better able to deliver value to our customers, further penetrate our core markets, and grow the business ...
Albuquerque, New Mexico (PRWEB) June 28, 2016
IntelliCyt, a leading provider of integrated platforms that accelerate drug discovery, antibody screening and immuno-oncology research, announced today it has been acquired by Sartorius, a leading international pharmaceutical and laboratory equipment provider. The transaction is for $90 million in cash; which includes approximately $5 million in future tax savings.
IntelliCyt based in Albuquerque, New Mexico, has developed and commercialized an award-winning, novel cell screening platform that assesses multiple cellular parameters with unmatched speed, efficiency and ease of use. IntelliCyt, focuses on pharma, biotech and academic customers, achieved very strong double-digit annual growth during the past few years resulting in sales revenues of $13.4 million in 2015 and has a revenue forecast of more than $18 million in 2016. The company currently employs approximately 55 people and is projected to reach profitability by the end of 2017.
“By coupling the global market presence and strong infrastructure of Sartorius with IntelliCyt’s enabling cell analysis platform, we will be better able to deliver value to our customers, further penetrate our core markets, and grow the business to the next level,” said R. Terry Dunlay, the founder, President and CEO of IntelliCyt.
Welcoming the transaction, Joachim Kreuzburg, CEO of Sartorius, said, “Novel cell screening methods are crucial to enable scientific progress in the fast-expanding research areas of immuno-oncology, antibody discovery and immune targets. IntelliCyt has developed a powerful platform that integrates instruments, reagents and software seamlessly across the workflow. This is a great addition to our laboratory products portfolio.”
IntelliCyt Corporation manufactures and sells integrated instrumentation, software and reagent solutions that facilitate the study of cells and their components to gain a better understanding of normal and disease processes. This information speeds the discovery and development of new drugs and provides new insight for the diagnosis of diseases. IntelliCyt’s products are used worldwide throughout the pharmaceutical and biotechnology industries and in academic research labs.
The Sartorius Group is a leading international pharmaceutical and laboratory equipment provider with two divisions: Bioprocess Solutions and Lab Products & Services. Bioprocess Solutions with its broad product portfolio focusing on single-use solutions helps customers produce biotech medications and vaccines safely and efficiently. Lab Products & Services, with its premium laboratory instruments, consumables and services, concentrates on serving the needs of laboratories performing research and quality assurance at pharma and biopharma companies and on those of academic research institutes. Founded in 1870, the company earned sales revenue of more than 1.1 billion euros in 2015. More than 6,200 people work for the Group, which has its own manufacturing and sales sites in around 110 countries.