Quotient Biodiagnostics Raises $11.2 Million of Growth Finance Led by Galen Partners
NEWTOWN, Pa. & EDINBURGH, Scotland--(BUSINESS WIRE)--Quotient Biodiagnostics Holdings Limited ("Quotient"), a global transfusion diagnostics Group, is pleased to announce that it has completed an $11.2 million growth equity financing led by Galen Partners, a US-based healthcare venture capital investment firm.
"In addition to new capital, Galen brings significant industry experience and a track record of building high growth companies. We look forward to building a long and successful relationship with them."
"Quotient is very pleased to introduce Galen Partners as a shareholder," said Paul Cowan, Executive Chairman and Founding Shareholder. "In addition to new capital, Galen brings significant industry experience and a track record of building high growth companies. We look forward to building a long and successful relationship with them."
The new funds will be used to fund the growth of the Quotient's US commercial operations, to expand the Group's manufacturing and product development operations in Edinburgh, Scotland and to accelerate the development of a next generation automated transfusion diagnostics platform.
As part of the fundraising, David Azad and John Wilkerson from Galen Partners will join the Board of Quotient as Non-Executive Directors. Additionally, Thomas A. Bologna (Chairman and CEO of Response Genetics) will also join the Board of Quotient as a Non-executive Director.
"With a tradition built over three decades, the Quotient companies have developed a distinctive global reputation as an innovator and trusted supplier of transfusion diagnostics. With Galen's growth capital investment, Quotient will have transformative manufacturing and scientific resources to advance the field of transfusion diagnostics worldwide," said David Azad, Managing Director of Galen Partners. "Galen is excited to partner with Paul and the teams in the USA and Scotland to accelerate growth and build an important company."
About Quotient Biodiagnostics
Quotient Biodiagnostics, through its operating subsidiaries, is a trusted leader in transfusion diagnostics. The Group serves major transfusion diagnostic companies as an innovative product development and supply chain partner and the blood banking and transfusion medicine community through the direct provision of high quality transfusion diagnostic products proven over 30 years to ensure safe and reliable blood transfusions.
Based in Scotland, Alba Bioscience is the product development and manufacturing arm of the Quotient Group. Alba has a distinguished record of developing and manufacturing innovative transfusion diagnostics for Quotient and other major transfusion diagnostics groups worldwide. For more details about the full range of products offered by Alba and Quotient outside of the USA, please visit our website www.albabioscience.co.uk.
Based in the USA, Quotient Biodiagnostics, Inc. (the Group's North American sales and marketing business) provides the US blood banking community with trusted transfusion diagnostics products manufactured over many years by Alba. For more details about the full range of products offered by Quotient in the United States of America, please visit our website www.quotientbd.com.
About Galen Partners
Galen Partners is a leading healthcare venture capital investment firm. The firm focuses on growth equity investments in healthcare technology and services, medical products, and specialty pharmaceutical companies. With nearly $1 billion under management, raised through five funds, Galen has helped build more than 70 companies since our founding in 1990. The firm continues a tradition of strategic collaboration and partnership with its portfolio company management teams to build healthcare market leaders. For more information, please visit Galen's web site at www.galen.com.