ImmunoSolv & GBC merge; plan contract services growth
Merging with GBC expands ImmunoSolv into the contract research sector. ImmunoSolv, the name of the merged company, plans to accelerate development of the robust revenue stream offered by the contract services business.
Revenues will also be generated by Dead-Cert, dead-cell removal kits developed by ImmunoSolv. To support development of the revenue generating businesses ImmunoSolv has secured funding from Grampian BioPartners and the Scottish Co-Investment Fund.
ImmunoSolv will also use the funding to further research and development (R&D) into new products and services. Post-merger R&D will benefit from the expanded capabilities and infrastructure possessed by the new company.
“The addition of GBC will ensure the company has the infrastructure, reach and product offerings to meet the needs of lab-based scientists, bio-manufacturers and clinicians in the fields of therapeutic cells and proteins worldwide”, said Ruth Murray, CEO of ImmunoSolv.
Merging brings together expertise in immunology and immuno-technology for development of new antibody-based treatments for cancer and inflammation. ImmunoSolv also said the merged company has a critical mass of combined business to support longer-term growth.
The merged company has two current sources of revenue, Dead-Cert and contract services, a more diversified range of capabilities and an expanded intellectual property (IP) portfolio. It also has access to IP developed at universities in Edinburgh and Aberdeen, Scotland.
"Scottish biotechnology has too many "one trick ponies"”, said Andy Porter, co-founder of GBC.
ImmunoSolv did not respond to Outsourcing-Pharma’s request for additional information in time for publication.
