Leica Biosystems acquires Cell IDx – a leader in multiplexed cellular immunodiagnostics.
DEER PARK, Ill., Dec. 6, 2022 /PRNewswire-PRWeb/ -- Leica Biosystems has acquired Cell IDx Inc., a technology leader in multiplexed tissue profiling, developing highly sensitive and specific chromogenic and fluorescent multiplex immunohistochemistry reagents to meet the needs of precision medicine. The acquisition is timed with the planned exit of Cell IDx from the Formation Venture Engineering portfolio.
"We believe Leica Biosystems recognized that Cell IDx's technology takes cancer pathology screening to a new level, generating a multiplex, color-coded profile that adds breadth and specificity of information enabling more robust diagnosis by pathologists, without changing workflows," said Rahul Bhansali, cofounder and Managing Partner of Formation Venture Engineering. "Cell IDx technology has the potential to significantly reduce the time taken to, and increase the fidelity of, cancer diagnosis and the diagnosis of a range of diseases, helping to ease the suffering of millions of patients around the world. Now that Leica Biosystems, a world leader in workflow solutions and automation for pathology laboratories and researchers, has acquired this game-changing technology 25 months after our first investment, we look forward to seeing increased utilization for patients' benefit around the world."
"We are thrilled to welcome Cell IDx to the Leica Biosystems team," said Gustavo Perez-Fernandez, President of Leica Biosystems, in a recent press release. "This acquisition will expand our capabilities in the translational research segment and help researchers to accelerate their journey, transforming scientific exploration into translational outcomes."
"Cell IDx is thrilled to be acquired by Leica Biosystems," said David Schwartz, CEO and founder of Cell IDx, Inc. "The synergies between the two companies foreshadows successful commercialization for both clinical and research products developed by Cell IDx's proprietary multiplex technology. I would like to thank FVE for their belief in our team, the venture engineering guidance provided, and financial support that was crucial to allow us to attract an acquirer like Leica Biosystems."
Cell IDx's planned exit is part of a core strategy for its largest institutional investor, the venture capital firm Formation Venture Engineering (FVE). FVE has built a fundamentally novel capitalization approach, investing in transformative platform technology companies in the life sciences, starting with the exit in sight. The venture engineering approach utilizes truth-seeking principles to ensure market pull and engineers the companies to accelerated exits and inherent momentum for rapid scaling.
Formation Venture Engineering (FVE) identifies, builds, and manages investments into pre-seed, seed, and startup-stage companies that are at the vanguard of change within healthcare and the life sciences industry. FVE's process efficiently creates value and planned exits that are intentionally swift. The sale of Cell IDx just 25 months after initial investment followed FVE's venture engineering process, which is unique within the venture capital industry.
"We are activating the world's largest, most potent human problem-solving potential, by unlocking the way scientific innovation makes it to the market. Following humble truth finding and principles of parity, we believe investors, inventors, and the world will benefit. With the sale of Cell IDx, we've demonstrated the veracity of our approach and advanced our goals of impacting human health and rewarding our investors," said Bhansali.
About Formation Venture Engineering
Formation Venture Engineering's (FVE) mission is to reduce human suffering while creating financial value, for the benefit of the world. By recognizing the common pitfalls of building ventures and aligning stakeholders, FVE's model positions its funds to deliver uncommonly reliable venture-level returns for enormous benefit to its founders and investors. After proving the concept and defining the exit, FVE builds teams from industry powerbrokers, in alignment with acquirers, to enable realization with high-value, planned exits. More at http://www.formationve.com.
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SOURCE Formation Venture Engineering
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