Caprion Proteomics Buys PPD Biomarker Unit
Caprion Proteomics Inc., a provider of proteomics-based service to the pharma and biotech industries, has acquired the biomarker services unit of PPD Inc. (Nasdaq: PPDI). No financial terms were disclosed. Caprion Proteomics is a portfolio company of Great Point Partners.
Caprion Proteomics Inc. announced today that it has acquired from PPD, Inc. (Nasdaq: PPDI) the shares and assets of PPD Biomarker Discovery Sciences, LLC, PPD's proteomics-based biomarker services division based in Menlo Park, Calif. The acquisition further strengthens Caprion's market leadership position in the area of proteomics biomarker services and will also broaden its client portfolio and revenue base.
Financial terms of the acquisition were not disclosed.
Caprion will perform existing contractual obligations acquired as part of this acquisition from both Caprion's facilities in Montreal and from a new facility in Menlo Park that will operate under the name Caprion Proteomics, U.S., LLC.
"We are very pleased to add the solid scientific capabilities, experience and customer relationships of PPD's biomarker unit to Caprion's rapidly growing biomarker services business," said Martin LeBlanc, President and CEO of Caprion. "By acquiring this business, we will expand our capacity and be able to better meet the growing biomarker needs of our current and future clients."
"This acquisition will be immediately accretive for Caprion both from a financial and strategic standpoint," said Adam Dolder, Managing Director at Great Point Partners, LP, Caprion's majority shareholder. "It further positions the Company for continued growth and solidifies its market leadership position in the biomarker space."
About Caprion Proteomics
Caprion Proteomics is the leading provider of proteomics-based services to the pharmaceutical and biotech industries. Caprion's proprietary proteomics technology, CellCarta®, is a gel-free, label-free mass spectrometry platform that enables a comprehensive, quantitative and robust measurement of the protein expression differences across large sets of biological samples. Caprion has been providing proteomics biomarker and target identification services since 2002, and has performed multiple large-scale biomarker discovery and validation projects for pharmaceutical industry clients such as Pfizer, J&J, Biogen Idec, Daiichi-Sankyo, Mitsubishi- Tanabe, Wyeth, AstraZeneca, Merck, Boehringer Ingelheim, GSK, Schering-Plough, Merck- Serono, Vertex, DebioPharm and Solvay. Caprion also has been awarded two consecutive 5-
year US$13 million contracts for Biodefense proteomics research in the area of infectious diseases with the NIH-NIAID. In 2008, Caprion also entered into a worldwide strategic marketing and distribution alliance for biomarker services with Covance, Inc. (NYSE:CVD), which also involved the purchase by Covance of a minority equity stake in the company.
Caprion Proteomics, a privately-held company, is majority owned by Great Point Partners, LP.
For more information, please visit: www.caprion.com.
PPD is a leading global contract research organization providing discovery, development and post-approval services as well as compound partnering programs. Our clients and partners include pharmaceutical, biotechnology, medical device, academic and government organizations. With offices in 40 countries and more than 10,500 professionals worldwide, PPD applies innovative technologies, therapeutic expertise and a commitment to quality to help its clients and partners maximize returns on their R&D investments and accelerate the delivery of safe and effective therapeutics to patients. For more information, visit our Web site at http://www.ppdi.com.
About PPD Biomarker Discovery Sciences, LLC
PPD Biomarker Discovery Sciences, LLC provides biomarker solutions to pharmaceutical and biotechnology companies using proprietary, integrated proteomics technologies to identify biomarkers that may have a useful role in disease detection and in the evaluation of therapeutic response. The company, originally founded in 1997 under the name SurroMed, Inc., was acquired by PPD Inc. in 2005 and has since operated as a subsidiary of PPD based in Menlo Park, California.
About Great Point Partners
GPP, based in Greenwich, CT, is a leading health care investment firm with approximately $500 million of equity capital under management. The firm manages capital in public and private equity funds. Great Point Partners has provided growth equity, growth recapitalization, and management buyout financing to more than 100 health care companies. Both the private and public funds invest across all sectors of the health care industry including biotechnology and life sciences, consumer health, generic drugs, health care services, information technology, insurance, medical devices, specialty pharmaceuticals, and workers compensation. The firm pursues a proactive and proprietary approach to sourcing investments. Reach Great Point at 203-971-3300. www.gppfunds.com