US: BioIVT acquires serum, plasma and reagent producer
BioIVT, which is focused on research models and services for drug and diagnostic development, has acquired Valley Biomedical, a company servicing the biotechnology, R&D and clinical diagnostics markets.
It said it will continue to operate Valley Biomedical’s Winchester facility and employ all its staff.
The companies did not disclose any financial details related to the deal.
Valley Biomedical, based in Winchester, Virginia, provides specialized biological products and services for the sectors it targets; it operates three business units, one that develops research products and cell culture sera; another that manufactures human and animal source blood products to client specifications; and a unit that produce non-biological liquid reagents. It is also an FDA-registered medical device manufacturer, primarily producing in vitro diagnostics (IVDs).
Boosting drug discovery and development
Following on from this deal. BioIVT’s cell and gene therapy clients will be able to use Valley Biomedical’s human AB serum for their drug discovery and development work, and its IVD clients will be able to employ Valley Biomedical’s biological matrices as quality control matrices for their manufacturing processes, according to the parties.
In turn, BioIVT’s seven donor centers will provide access to bulk biological matrices that can be processed by Valley Biomedical for cell and gene therapy or IVD applications.
BioIVT specializes in control and disease-state biospecimens including human and animal tissues, cell products, blood and other biofluids. Its portfolio of clinical specimens is targeted at precision medicine research and ongoing work to improve patient outcomes by coupling comprehensive clinical data with donor samples.
The company says its hepatic products, including hepatocytes and subcellular fractions, are aimed at supporting the greater understanding of pharmacokinetics and the drug metabolism of newly discovered compounds and their effects on disease processes.
